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Wednesday, April 7, 2010 as of 11:14 AM ET

KeyCorp

KeyBank is a regional bank headquartered in Key Tower within Cleveland, Ohio's Public Square. , it is the 19th largest bank in the United States based on total deposits.

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Soros Dumps Google and Apple, Buys Banks

Well, one big gun is loving the banks and disliking tech stalwarts like Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) right now, possibly because on a share-to-book value basis, the banks are trading at dirt cheap levels, while tech is on a tear.

Soros Fund Management, the New York hedge fund of billionaire George Soros, recently dumped all of its Google shares -- worth $168 million -- and halved its stake in Apple, says Harish Mali, an analyst with SNL Financial, a Wall Street research firm.Meanwhile, Soros' fund also added more stakes in big banks during the first quarter, buying Atlanta-based Suntrust Banks (NYSE:STI) as well as more shares in JPMorgan Chase (NYSE:JPM), Fifth Third Bancorp (NASDAQ:FITB), Citigroup (NYSE:C), Regions Financial (NYSE:RF) and Capital One Financial (NYSE:COF).The moves quadrupled the fund's stock investment in banks to $196.5 million at March 31 from $47.6 million at the end of 2011, SNL's Mali says.But Soros' fund also dumped some big bank names, too, as ...

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  1. Dick Bove on the Fed Stress-Test Results

    Rochdale Securities bank analyst Dick Bove on the impact of the Federal Reserve’s stress test results on the banking sector.

  2. JPMorgan Leads Banks Set To Raise Dividend After Stress Test

    J. P. Morgan Chase & Co. (JPM) led a number of the biggest U.S. banks in announcing dividend raises and stock buybacks, after receiving the results of the Federal Re...

  3. KeyCorp To Buy Back Shares, May Hike Dividend

    KeyCorp said late Tuesday that its board authorized a $344 million stock buyback program after the Federal Reserve approved its capital plan. The board will also con...

  4. KeyCorp CEO Optimistic on Economy and Growth

    KeyCorp CEO Beth Mooney weighs in on the current lending environment and the Volcker Rule and future acquisitions.

  5. Dick Bove on JPMorgan Earnings

    Rochdale Securities’ Dick Bove on JPMorgan’s earnings results and what it says about the banking and housing sectors.

  6. Mayo: Lack of Capitalism Caused Crisis

    'Exile on Wall Street' Author Mike Mayo breaks down what's wrong with big banks, regulation and Wall Street.

  7. KeyCorp Tops Gainers In Rising Financial Sector

    U.S financial stocks posted modest gains on Monday absent any major sector headlines. Regional bank KeyCorp led gainers with a 2.3% move, while First Horizon and rea...

  8. JPMorgan Backs Away From Debit Card Fees

    FBN’s Liz MacDonald on JPMorgan Chase deciding not to charge debit card fees after the growing backlash from customers.

  9. Financials Lead Market Lower

    The financial sector led the market lower Wednesday, not a good sign for stock-market bulls."The worst performing group within the financial sector is the commercial...

  10. KeyCorp to repay TARP; plans $625 million offering

    NEW YORK (Reuters) - Keycorp said on Friday that it planned to repay $2.5 billion in U.S. government bailout funds, becoming one of the latest banks to shake off the...

  11. Fed decision on bank dividends expected in days

    By Dave Clarke and Joe RauchWASHINGTON/CHARLOTTE, North Carolina (Reuters) - The Federal Reserve could tell major banks as soon as next week whether regulators' stre...

  12. New Bank Fees are Coming, Here's How to Avoid Them

    You know those letters you periodically get from your bank that contain a lot of legal mumbo-jumbo and are often written in annoyingly tiny type? Although it might b...

  1. Keycorp CEO: Regional Bank Space has Competitive Advantage

    Beth Mooney, Keycorp chairman & CEO, on the company’s earnings and competition among leading banks in the sector.

  2. Wells Fargo & Company, Accenture Among Stocks Down on High Volume Friday

    There are a few stocks down on high volume today:After trading at a volume of 41 million, or 1.5 its average daily volume, (NYSE:WFC) saw its price drop. At $32.84, ...

  3. Where Are the Women on Wall Street?

    While the glass ceiling keeping women out of the C-Suite was shattered at blue-chip technology and industrial companies many years ago, it continues to hover over th...

  4. Weak Summer Ahead for Financials?

    Rochdale Securities bank analyst Dick Bove on why banks will have a strong year overall despite a disappointing summer.

  5. Quick Look: Results of the Bank Stress Tests

    The Federal Reserve said on Tuesday that 15 of the 19 largest U.S. bank holding companies passed this year's stress tests, meaning they would maintain a Tier 1 commo...

  6. JP Morgan Leads Banks Set To Raise Dividends After Stress Test

    J.P. Morgan Chase & Co. (JPM) led a number of the biggest U.S. banks in announcing dividend raises and stock buybacks, after receiving the results of the Federal Res...

  7. Four of 19 Banks Fall Below Minimum Capital Ratios

    FBN’s Liz MacDonald on the four banks that failed the Federal Reserve’s stress tests and those that are raising their dividends.

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