Market Overview

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.

Related Link: 'Super-Regional' Banks? Piper Jaffray Is Getting Into Them

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

Nov 2019MaintainsNeutral
Nov 2019MaintainsBuy
Nov 2019MaintainsMarket Perform

View More Analyst Ratings for KEY
View the Latest Analyst Ratings

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