) touched a new 52-week high of $11.09 during its trading session
on Jun 27. This represents an increase over the previous high of
$11.06 reached on Jun 10.
KeyCorp closed its trading session on Jun 27 at $11.08,
reflecting a solid year-to-date return of 48.7%. The trading
volume for the session was 9.5 million shares. Further upside
potential exists for this Zacks Rank #2 (Buy) financial holding
company as is evident from its long-term expected earnings growth
KeyCorp posted impressive first quarter 2013 results on Apr 18.
Earnings per share came in at 22 cents, above the Zacks Consensus
Estimate of 20 cents. The outperformance can be attributed to an
increase in net income and stable operating expenses, offset
partially by a fall in fee income.
Apart from the quarter results, KeyCorp's policy of rewarding
shareholder is worth mentioning. On May 16, the company's
quarterly dividend rate was increased by 10% to 5.5 cents per
share. Also, the company has a $426 million worth of share
buyback program in force, to be completed by the first quarter of
Additionally, KeyCorp had a positive earnings surprise in
three out of the four trailing quarters with an average of 9.4%.
This along with impressive quarter results and the company's
capital deployment policy has raised optimism for a better
Estimate Revisions Show Potency
Over the last 90 days, the Zacks Consensus Estimate for
KeyCorp increased by 1.2% to 86 cents per share for 2013 and grew
by 2.1% to 97 cents for 2014.
Other stocks to watch out for in the industry are
Enterprise Financial Services Corp
Old Second Bancorp Inc
). Of these, Old Second Bancorp and Privatebancorp carry a Zacks
Rank #1(Strong Buy) while Enterprise Financial carries a Zacks
Rank #2 (Buy).
ENTERPRISE FINL (EFSC): Free Stock Analysis
KEYCORP NEW (KEY): Free Stock Analysis Report
OLD SECOND BCP (OSBC): Free Stock Analysis
PRIVATEBANCORP (PVTB): Free Stock Analysis
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