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Latest KeyCorp (NYSE:KEY)’s Key Departure And The Insider-Trading Trend

Boston, MA 10/28/2013 (wallstreetpr) – The recently retired Charles Hyle who had served as the chief risk officer for KeyCorp (NYSE:KEY) in Cleveland since 2004 to his retirement in 2012 is now a board member for the Texas Capital Bancshares  in Dallas. Hyle who had also served in different capacities at Barclays (NYSE: BCS) in the last 23 years before joining Key Corp is a highly regarded senior risk executive in the banking sector who has a profound understanding of risk management in the ever changing industry. Following the move, the $11 billion in assets Texas Capital now has 15 members on its board.

Key Corp on the other has had its share of insider-trading increase recently. The company in the last 30 days has been noted to have excessive insider-trading of shares. Over the last one month, the company has seen about 11,000 shares bought by members within that same company. A total of 41,000 shares have been bought since June with none being sold.

In October 2013, 3 of the company’s directors were most notable on the insider-trading charts. Ruth Ann Gillis bought about 1,000 shares to add up her ownership to 3,500 shares which is a 40% increase. Charles Cooley also a director of the company bought 2,000 shares to see his current ownership hike up to 3,000 shares to increase his percentage by 200%. Lastly Edward Campbell also a director bought 8,000 shares to pump up his ownership by 117.4% to now own 14,812 shares. However, it is important to note that the shares were bought on different days and not the same day. The current insider-trading now means that Key Corp has an insider ownership of 0.10%.

Considering that Key Corp has a book value of $11.05 per share, analysts believe that the insider trading is a good pick at that book value.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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