Goldman a bull on Signature Bank

"Signature Bank (SBNY) is one of the few organic growth stories in banks, with plenty of room for share gains in NYC and its surrounding markets," says analyst Ryan Nash, resuming the stock with a Buy and $148 price target.

"SBNY's unique model entails hiring seasoned teams with existing books of business (loans/deposits) from competitors and utilizes a high level of customer service to deepen these relationships. Given this structure, we believe it can penetrate further into multifamily, while continued growth in Signature Financial and long-term market expansion should keep growth above expectations for years to come."

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