Ronnie Moas: KeyCorp Stock Is 'Looking Good'
- Shares of KeyCorp (NYSE: KEY) have lost roughly 3.4 percent over 2015, but just hit a two-month high.
- The chart is "looking good" now, according to Ronnie Moas, Founder & Director of Research at Standpoint Research.
In a recent email to investors, Ronnie Moas shared a brief look into KeyCorp and New York Community Bancorp, Inc. (NYSE: NYCB).
New York Community Bancorp recently took over Astoria Financial Corp (NYSE: AF) in a deal valued at approximately $2 billion. On the other hand, KeyCorp acquired First Niagara Financial Group Inc. (NASDAQ: FNFG) for roughly $4.1 billion – marking one of the largest deals among U.S. regional banks in 2015.
Moas assured he is "quite familiar with all four." He has "gone in-and-out" of New York Community Bancorp a few times since 2005 and was in First Niagara Financial Group before they inked the deal with KeyCorp.
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The analyst went on to note that KeyCorp and New York Community Bancorp both sold off leading up to the acquisitions – after they were announced. These tumbles created "nice entry points for those who can look out 18-36 months."
According to Moas, KeyCorp and New York Community Bancorp "both made good moves and neither overpaid (although NYCB will be forced to cut its 6% dividend yield)."
The analyst gave both KeyCorp and New York Community Bancorp Buy ratings.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Latest Ratings for KEY
Date | Firm | Action | From | To |
---|---|---|---|---|
Jan 2021 | Morgan Stanley | Maintains | Equal-Weight | |
Dec 2020 | Morgan Stanley | Maintains | Equal-Weight | |
Nov 2020 | RBC Capital | Maintains | Outperform |
View More Analyst Ratings for KEY
View the Latest Analyst Ratings
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