Divestiture Agreements, Strategic Partnerships and Financial Results - Research Report on KeyCorp, ICICI Bank, Altisource, Walter Investment, and Invesco Mortgage Capital

NEW YORK, August 28, 2013 /PRNewswire/ --

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Today, Investors' Reports announced new research reports highlighting KeyCorp (NYSE: KEY), ICICI Bank Ltd. (NYSE: IBN), Altisource Portfolio Solutions S.A. (NASDAQ: ASPS), Walter Investment Management Corp. (NYSE: WAC), and Invesco Mortgage Capital Inc. (NYSE: IVR). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

KeyCorp Research Report  

On August 1, 2013, KeyCorp (KeyCorp) announced that it has closed on its agreement to sell its investment management subsidiary, Victory Capital Management, and broker dealer affiliate, Victory Capital Advisors, to the employees of Victory and Crestview Partners, a leading private equity firm based in New York. KeyCorp stated that its net after-tax realized gain from the sale is expected to be in the range of $100 million to $115 million and it intends to use the cash proceeds (expected to be between $75 million and $90 million) for common share repurchases. David Brown, CEO of Victory, said, "Today is a very exciting one for Victory and we are delighted to be partnering with Crestview. As we said at the time this transaction was announced in late February, one of its important features is that it preserves our successful multi-boutique operating model and provides our employees real equity ownership, aligning our interests with those of our clients, today and well into the future. We find this to be a compelling and motivating proposition for success going forward." The Full Research Report on KeyCorp- including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-02/KEY]

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ICICI Bank Ltd. Research Report

On July 31, 2013, ICICI Bank Ltd. reported its financial results for Q1 FY 2014 (period ended June 30, 2013). The Company's standalone profit after tax increased 25.3% YoY to INR 22.7 billion (or $383 million) during the quarter. Net interest margin increased from 3.01% in Q1 FY 2013 to 3.27% for Q1 FY 2014, while cost-to-income ratio reduced to 39.4% in Q1 FY 2014 from 41.8% in Q1 FY 2013. Return on average assets was 1.75% in Q1 FY 2014 compared to 1.51% in Q1 FY 2013. The Full Research Report on ICICI Bank Ltd. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-02/IBN]

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Altisource Portfolio Solutions S.A. Research Report  

On July 25, 2013, Altisource Portfolio Solutions S.A. (Altisource) reported its financial results for Q2 2013. The Company's total revenue increased 29.1% YoY to $186.1 million during the quarter. Net income attributable to Altisource was $30.9 million or $1.25 per diluted share, compared to net income of $28.1 million or $1.13 per diluted share, in Q2 2012. According to William Shepro, CEO of Altisource, "We expect earnings for the second half of 2013 and full year 2014 to be very strong as we begin to benefit from the ResCap and OneWest non-GSE servicing portfolio referrals and the higher margin Homeward referrals. We also remain intensely focused on margin improvement and believe we are making good progress toward accomplishing the seven percent margin improvement in our default related businesses by the end of the year." The Full Research Report on Altisource Portfolio Solutions S.A. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-02/ASPS]

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Walter Investment Management Corp. Research Report

On July 30, 2013, Walter Investment Management Corp. (Walter Investment) announced that it has entered into a strategic relationship with UFG Holdings, LLC. (UFG), a company controlled by an investor group, led by Walter Investment's Chief Strategy Officer, Brian Libman; and that UFG has agreed to acquire 100% of the membership interests of Urban Financial Group, LLC (Urban) from KCG Holdings, Inc. As per the terms of the agreement with UFG, and subject to the closing of the purchase of Urban, Walter Investment will invest c.$15 million in UFG in the form of an unsecured loan and will receive warrants entitling Walter to purchase up to 19% of the common units of UFG. Mark J. O'Brien, Chairman and CEO of the Company said, "We believe the development of this strategic relationship with Brian and Urban will result in a long-standing and mutually beneficial relationship for both entities." The Full Research Report on Walter Investment Management Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-02/WAC]

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Invesco Mortgage Capital Inc. Research Report

On July 31, 2013, Invesco Mortgage Capital Inc. (Invesco) reported its financial results for Q2 2013. The Company's unaudited consolidated net income attributable to common shareholders was $138.8 million or $0.95 per diluted share, in Q2 2013, compared to net income of $78.8 million or $0.68 per diluted share, in Q2 2012. Richard King, President and CEO of the Company, said, "For the second quarter, we earned $1.03 per share on a GAAP basis and core earnings of $0.59 per share, which allowed us to maintain our $0.65 dividend. We believe our diversified portfolio and hedging strategy helped reduce the impact that rising interest rates had on our book value. We continue to position our portfolio for a rising rate environment and took additional steps last quarter to increase our hedging, reduce exposure to Agency RMBS and add credit assets." The Full Research Report on Invesco Mortgage Capital Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-02/IVR]

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