Information from various sources indicates significant institutional interest in KeyCorp (NYSE:KEY), a regional bank providing deposit, lending, cash management, and investment services. Ceredex Value Advisors reportedly sold a massive 1,520,544 shares, and AustralianSuper holds a $7 million stock position. Furthermore, Scotiabank purchased a 14.9% stake for $2.8 billion, and Mirae Asset Global Investments recently acquired shares. Despite reporting a $918 million loss from asset sales, KeyCorp had strong Q3 earnings with significant beats in revenue and earnings estimates. Amid rising costs, KeyCorp has initiated restructuring efforts to aid its financial situation. While selling nearly $7 billion of low-yield investments, KeyCorp received a strategic minority investment from Scotiabank. This move resulted in a surge of stock prices. Despite improved net interest income and some underperformance during trading days, KeyCorp's EPS topped Q2 earnings estimates amidst resource reshuffling.
Keycorp KEY News Analytics from Tue, 20 Feb 2024 08:00:00 GMT to Sat, 02 Nov 2024 13:39:09 GMT - Rating 6 - Innovation 0 - Information 8 - Rumor -2
