New York Community Bancorp. Inc. was upgraded to buy by DA Davidson on Tuesday, with analysts saying the acquisition of certain assets and liabilities of...
New York Community Bancorp. Inc.
was upgraded to buy by DA Davidson on Tuesday, with analysts saying the acquisition of certain assets and liabilities of Signature Bridge Bank would accelerate its transformation to a more commercial bank. The deal will lower the loan to deposit ratio to under 1003 and increase commercial and industrial loans. analyst Peter J. Winter wrote in a note to clients.
was upgraded to buy by DA Davidson on Tuesday, with analysts saying the acquisition of certain assets and liabilities of Signature Bridge Bank would accelerate its transformation to a more commercial bank. The deal will lower the loan to deposit ratio to under 1003 and increase commercial and industrial loans. analyst Peter J. Winter wrote in a note to clients.
made a valid point that Signature has already realized a significant outflow of deposits; which were $89B at 12/31 and is not taking any crypto or venture capital related deposits; which have been very volatile,” the analyst wrote. The bank is hanging on to all of Signature’s branches, private banking and deposit gathering teams, “so a high level of the remaining deposits are operational business accounts and no disruption to the client relationship,” he said. The stock was up 3.6% premarket.
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