We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
KeyCorp (KEY) Vends Key Insurance & Benefits Services to USI
Read MoreHide Full Article
Continuing with the aim of focusing on core operations, KeyCorp (KEY - Free Report) is set to sell Key Insurance & Benefits Services, Inc. Notably, the unit was acquired as part of the First Niagara Financial Group merger in 2016.
Last week, KeyBank, the banking subsidiary of KeyCorp signed a deal to vend the unit to USI Insurance Services ("USI"), the New York insurance broker. The deal, awaiting certain regulatory approvals, is anticipated to close in second-quarter 2018. However, financial terms of the agreement remain undisclosed.
With a division headquartered at Buffalo, NY, Key Insurance & Benefits Services, Inc. works with 350 employees across eight offices in upstate New York, Pennsylvania and Connecticut.
Morgan Stanley & Co. LLC — a unit of Morgan Stanley (MS - Free Report) — is serving as the financial advisor to KeyBank.
"We want to thank our teammates at Key Insurance & Benefits Services, Inc. for their contribution to Key. Through this sale, we are highlighting our focus on delivering core banking services across our footprint. We believe that Key Insurance & Benefits Services, Inc. and USI represent complementary businesses without geographic overlap and a shared commitment to providing strong client service and product expertise," said E.J. Burke, co-president, Key Community Bank.
Shares of KeyCorp gained 4.3% over the last six months, underperforming the industry’s rally of 4.9%.
Lakeland Financial Corporation (LKFN - Free Report) has been witnessing upward estimate revisions for the last 90 days. Also, the company’s shares have risen nearly 7.6% over the past year. It currently carries a Zacks Rank of 2.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Image: Bigstock
KeyCorp (KEY) Vends Key Insurance & Benefits Services to USI
Continuing with the aim of focusing on core operations, KeyCorp (KEY - Free Report) is set to sell Key Insurance & Benefits Services, Inc. Notably, the unit was acquired as part of the First Niagara Financial Group merger in 2016.
Last week, KeyBank, the banking subsidiary of KeyCorp signed a deal to vend the unit to USI Insurance Services ("USI"), the New York insurance broker. The deal, awaiting certain regulatory approvals, is anticipated to close in second-quarter 2018. However, financial terms of the agreement remain undisclosed.
With a division headquartered at Buffalo, NY, Key Insurance & Benefits Services, Inc. works with 350 employees across eight offices in upstate New York, Pennsylvania and Connecticut.
Morgan Stanley & Co. LLC — a unit of Morgan Stanley (MS - Free Report) — is serving as the financial advisor to KeyBank.
"We want to thank our teammates at Key Insurance & Benefits Services, Inc. for their contribution to Key. Through this sale, we are highlighting our focus on delivering core banking services across our footprint. We believe that Key Insurance & Benefits Services, Inc. and USI represent complementary businesses without geographic overlap and a shared commitment to providing strong client service and product expertise," said E.J. Burke, co-president, Key Community Bank.
Shares of KeyCorp gained 4.3% over the last six months, underperforming the industry’s rally of 4.9%.
KeyCorp currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
BankUnited, Inc. (BKU - Free Report) has been witnessing upward estimate revisions for the last 30 days. Further, the stock climbed more than 12% over the past six months. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lakeland Financial Corporation (LKFN - Free Report) has been witnessing upward estimate revisions for the last 90 days. Also, the company’s shares have risen nearly 7.6% over the past year. It currently carries a Zacks Rank of 2.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>