KeyCorp (KEY) had substantial stock transactions with Hotchkis & Wiley Capital Management, LLC, and Rockefeller Capital Management, L.P., selling over 90.3k and 125.8k shares, respectively. In contrast, investors like Jacobs Levy Equity Management Inc. and Cerity Partners LLC increased their shareholdings. Despite previous fluctuations, the stock reached a 52-week high due to a minority stake sale. Scotiabank's strategic minority investment received wide attention; it purchased a 14.9% stake in KeyCorp for $2.8 billion, considered a 'nice reset opportunity' by Jim Cramer.
Surges were also attributable to Goldman Sach's reaffirmed buy rating and good third-quarter performance, with earnings and revenues surpassing estimates. However, an impending $700M loss due to balance sheet repositioning might impact upcoming performance. Also, Q3 encountered some weakness in asset quality. Scotiabank's investment fueled anticipation around KeyCorp re-entering bank deals next year.
Keycorp KEY News Analytics from Thu, 22 Feb 2024 08:00:00 GMT to Sat, 07 Dec 2024 09:48:07 GMT - Rating 6 - Innovation 4 - Information 8 - Rumor -2
