Momentum Stock Watch: KeyCorp (KEY)

Company Profile:

KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $137.7 billion at December 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyCorp was founded in 1849 and is headquartered in Cleveland, Ohio.

Recent News:

On April 19, 2018, it announced first quarter net income from continuing operations attributable to Key common shareholders of $402 million, or $.38 per common share, compared to $181 million, or $.17 per common share, for the fourth quarter of 2017 and $296 million, or $.27 per common share, for the first quarter of 2017.

On March 29, 2018, it announced that it has entered into a definitive agreement to sell Key Insurance & Benefits Services, Inc. to USI Insurance Services. KeyBank acquired Key Insurance & Benefits Services, Inc. as part of the 2016 merger with First Niagara Financial Group.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

KEY’s strengths can be seen in its better growth and better profitability compared with its peers. Its revenue has increased over recent several years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic Oscillator and MACD. RSI(14) stands at 50.87 with positive bias. We rate KeyCorp (KEY) a STRONG BUY.

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