SBNY News and Press, Signature Bank From 03/22/23

2023-03-22 20:56:25 ET Summary As expected, the FOMC raised rates by 0.25% at their meeting this week, bringing the Fed funds rate to a range of 4.75% to 5.00%. The decision was unanimous, and the Fed signaled one more hike to follow. However, this almost certainly isn't enoug...

2023-03-22 13:59:52 ET Summary The John Hancock Financial Opportunities fund (BTO) has had an enviable record over the years as one of the most successful equity CEFs of all time. But these last few weeks in the financial sector have showed that no fund is immune from a crisis. ...

2023-03-22 11:46:00 ET Summary As central banks have been trying to control inflation with the fastest rate hikes since the early 1980s, we've begun to see some cracks in the financial system. There are uncomfortable echoes of course, anytime you get any sort of problem in the fin...

2023-03-22 08:15:04 ET Wells Fargo analyst Christopher Harvey updated the firm's Signature Picks portfolio on Wednesday, adding PNC Financial ( NYSE: PNC ) and U.S. Bancorp ( NYSE: USB ) while dropping Bank of America ( NYSE: BAC ) as it rebalances bank holdings ...

2023-03-22 06:10:00 ET Over the last few weeks, three banks have collapsed, triggering fears that there could be broader contagion within the banking sector. But distress also creates opportunity, and New York Community Bancorp (NYSE: NYCB) has seized the day with its acquisition of...

2023-03-21 16:56:17 ET Deere ( NYSE: DE ) was named as the best stock to sell short in a March 19 report from an analyst at research firm Hedgeye. “We are moving Deere ( DE ) up to our Top Short, with ample data pointing to excessive optimism in this deep cyclical...

2023-03-21 09:21:39 ET Armstrong World Industries ( NYSE: AWI ) on Tuesday was downgraded to Hold from an investment rating of Buy by analysts at Deutsche Bank. They said the maker of construction materials faces less demand for non-residential construction amid worries about th...

2023-03-21 08:57:39 ET D.A. Davidson analyst Peter Winter upgraded New York Community Bancorp ( NYSE: NYCB ) to Buy on Tuesday as the bank's acquisition of certain Signature Bank ( NASDAQ: SBNY ) assets and liabilities will accelerate its transformation to a more com...

2023-03-21 08:24:31 ET Summary The management team at New York Community Bancorp announced the purchase of a significant amount of assets from failed Signature Bank. This is a massive move that should add significant value to New York Community Bancorp and improve the company's ow...

2023-03-21 07:34:54 ET Officials at the U.S. Treasury Department are reportedly studying ways to guarantee all bank deposits if tremors in the banking system spiral into a full-blown financial crisis. Authorities don't yet see full FDIC coverage as necessary, but they are exploring a le...