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Crypto-Friendly Signature Bank Added to JPMorgan's 'Focus List'
Signature is "positioned to ride the crypto wave," a JPMorgan analyst wrote.
New York-based Signature Bank has been added to JPMorgan's list of recommended products on Tuesday.
STORY CONTINUES BELOW
- 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
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
