SOURCE: The Bedford Report

The Bedford Report

December 15, 2011 08:16 ET

Wells Fargo and KeyCorp Showing Signs of Loan Growth

The Bedford Report Provides Equity Research on Wells Fargo & KeyCorp

NEW YORK, NY--(Marketwire - Dec 15, 2011) - The US financial sector is down roughly 20 percent in 2011 as the debt crisis in Europe continues to weigh on shares. Peter Coleman, director of research at JMP Securities in San Francisco, argues that while "valuations are attractive" there is not yet a catalyst to push shares higher. Investors cite various reasons for financials to decline further, including regulations, weakness in the housing sector and fears linked to Europe's escalating debt crisis, Reuters reports. The Bedford Report examines the outlook for companies in the Money Center Banking industry and provides equity research on Wells Fargo & Co. (NYSE: WFC) and KeyCorp (NYSE: KEY). Access to the full company reports can be found at:

While Money Center Banks continue to face headwinds due to the European Debt crisis, the Fed recently announced that US financial institutions boosted loans by an average annual rate of nearly ten percent in the third quarter. This is the highest growth rate since the third quarter of 2008.

The Fed hinted that improvement in lending implied that a boost in gross domestic product in the fourth quarter might continue into 2012, despite the European debt crisis.

The Bedford Report releases market research on the Money Center Banking industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Wells Fargo & Company, through its subsidiaries, provides retail, commercial, and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. According to the American Customer Satisfaction Index, Wells Fargo & Co and Citigroup Inc tied for first place among the big banks with scores of 73 on a scale out of 100.

KeyCorp operates as a holding company for KeyBank National Association that provides various banking services in the United States. KeyBank announced that its customer satisfaction levels significantly exceed the industry average and continue to improve, even as the banking industry struggles to enhance customer sentiment. Key significantly improved its scores from 2010 for Value and Customer Satisfaction.

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