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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%.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
This Article's Word Cloud:AMEXBancorpCHANNELCreditFinancialInvestmentKeyCorpMeanwhileNYSEPORTFOLIOPortfolioRegionalSuisseZionZionsaboutallowsassetbondsclassescompletecompletelycountriescreditdesigneddeteriorationfollowfollowedfromgrowthhikedholdingsimprovementincludeindicatorsinvestorsleadsneutraloutperformperformanceportfoliopriceprogramqualityratingshareshortstockstermstoday
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