Share this article
Crypto-Friendly Signature Bank Added to JPMorgan's 'Focus List'
Signature is "positioned to ride the crypto wave," a JPMorgan analyst wrote.
Updated Sep 14, 2021, 12:09 p.m. Published Feb 9, 2021, 2:25 p.m.
Make us preferred on Google
New York-based Signature Bank has been added to JPMorgan's list of recommended products on Tuesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- JPMorgan analyst Steven Alexopoulos added Signature Bank (SBNY) to its “focus list,” saying the bank is “positioned to ride the crypto wave.”
- A focus list highlights recommended stocks published by the investment firm's research department.
- Deposit five-times growth in 2020 to more than $10 billion has "caught investors by surprise and triggered many questions about the opportunity for growing this newer business."
- Bank's shares have had “very strong outperformance” year to date: Alexopoulos.
- “Overweight" rating maintained, with price target of $250 a share, versus $195 now.
Read more: Signature Bank Adds $2.5B in Non-Interest Bearing Deposits in Q4
