McEvoy's price target for Signature Bank is $100, "which equates to approximately 17.6x our 2015 EPS estimate and 2.0x our estimated year end '15 tangible book value estimate." The analyst estimates the bank will earn $5.70 a share in 2015.
Signature Bank's shares trade at roughly a 20% premium to peers, which the analyst feels is justified, because of "the more favorable outlook for SBNY's net interest margin and above-peer balance sheet growth through the end of 2015."
-- Written by Philip van Doorn in Jupiter, Fla.
>Contact by Email.Follow @PhilipvanDoorn
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