By Market News Video Staff, Wednesday, November 17, 2:09 PM ET
Credit Suisse (NYSE:CS) cut its rating in KeyCorp (NYSE:KEY) and raised its rating on Zions Bancorp (NASDAQ:ZION) today. KeyCorp was cut from outperform to neutral, due to early indicators of credit quality deterioration. Meanwhile, Zions Bancorp was upgraded from underperform to neutral, on credit quality improvement. Credit Suisse hiked its price target on Zions from $24 to $26 per share.
Both stocks are in the iShares Dow Jones U.S. Regional Banks Index Fund (AMEX:IAT), trading lower by about 1% today. KeyCorp and Zion Bancorp are smaller holdings in the IAT ETF at 2.7% and 1.41% of the fund. Top holdings of IAT include US Bancorp (NYSE:USB), at 18.7%, followed by PNC Financial (NYSE:PNC), at 11.45%, and BB&T (NYSE:BBT), at 6.64%.
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