Market Overview

UPDATE: Stifel Nicolaus Downgrades KeyCorp to Sell on Limited EPS Upside

Related KEY
BankUnited (BKU) Beats Q2 Earnings on Higher Revenues
State Street (STT) Beats Q2 Earnings on Higher Fee Income

Stifel Nicolaus downgraded KeyCorp (NYSE: KEY) from Hold to Sell.

Stifel Nicolaus said, "Our analysis indicates the company has no material EPS upside in an environment where both the net interest margin and the loan loss provision expense normalize. The potential increase in net interest income would be significantly offset by an increase in loan loss provision expense. Despite this, the shares trade at the second highest P/E multiple within our large cap bank universe while its projected ROA remains lackluster."

KeyCorp closed at $9.57 on Friday.

Posted-In: Stifel NicolausAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (KEY)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free