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According to a research report published by Morgan Keegan, Signature Bank
SBNY is strong to finish 2011 as its beat on higher revenues.
In the report, Morgan Keegan states, “SBNY reported 4Q11 EPS of $0.85, beating our $0.80 and $0.84 consensus estimates. Beat to our estimate was driven by prepayment penalty income on loans (+$0.04) and stronger balance sheet growth (+$0.02), partially offset by higher provisioning (-$0.01).”
Morgan Keegan maintains its Market Perform rating and $56.00 PT on Signature Bank, which closed yesterday at $61.90.
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