Reuters: Global Markets: KeyCorp shares attractive, bank is undervalued: Barron's

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

KeyCorp shares attractive, bank is undervalued: Barron's Jan 13th 2013, 18:28 NEW YORK | Sun Jan 13, 2013 1:28pm EST NEW YORK (Reuters) - KeyCorp's (KEY.N) shares may be a good bet as the company is trading at a discount to its book value, and has strengthened its balance sheet since the financial crisis, according to an article in Barron's. The bank has "resilient earnings power without any visible obstacles," Morningstar analyst Maclovio Pina told the financial weekly in its January 14 edition. The bank's shares trade at a 5 percent discount to its book value, which is below its peers, Barron's said. If the shares traded at 1.1 times their book value, they would be worth $11, which is 23 percent above its current price of $8.94, the paper said. KeyCorp's capital levels and loan portfolio quality have improved and the bank had solid loan growth of 5 percent in the third quarter, Barron's said. The bank may also receive approval from the Federal Reserve to increase dividend payments to shareholders and buy back more shares, the paper said.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions