Citi analyst Keith Horowitz on Friday initiated coverage of four major regional banks with glowing marks for Huntington Bancshares, Zions Bancorp and KeyCorp, as a mixed third-quarter for bank stocks comes to a close on Friday.
Citi initiated coverage of Huntington Bancshares Inc. HBAN, +0.89% and Zions Bancorp ZION, +2.35% with buy ratings, while issuing neutral ratings on New York Community Bancorp Inc. NYCB, -0.62% and First Citizens Bancshares Inc. FCNCA, +0.15%. The Citi note penned by Horowitz said the firm’s top pick among regional banks remains KeyCorp KEY, +2.14%.
Huntington Bancshares’ stock is down 5.3% in the third quarter, while Zions has rallied by 26% over the past three months as the stock recovered some of its steep losses earlier in the year. KeyCorp’s stock has risen 13.8% in the past three months as it also recovered losses from earlier in the year.
Source: News Formal (newsformal.com)
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