Keefe, Bruyette & Woods Reiterates Outperform Rating for KeyCorp (KEY)
KeyCorp (NYSE:KEY)‘s stock had its “outperform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a report released on Wednesday.
Several other research analysts have also recently commented on the stock. Wedbush began coverage on shares of KeyCorp in a research report on Thursday, October 6th. They issued an “outperform” rating and a $15.00 target price for the company. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Piper Jaffray Cos. cut shares of KeyCorp from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.50 to $13.00 in a report on Monday, August 29th. Citigroup Inc. increased their price objective on shares of KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 22nd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price objective on shares of KeyCorp in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.39.
Shares of KeyCorp (NYSE:KEY) traded down 0.08% on Wednesday, hitting $12.73. The company had a trading volume of 14,098,664 shares. The company has a 50-day moving average of $12.36 and a 200 day moving average of $11.95. KeyCorp has a 12 month low of $9.88 and a 12 month high of $14.01. The stock has a market cap of $13.78 billion, a PE ratio of 13.16 and a beta of 1.21.
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KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a net margin of 17.81% and a return on equity of 8.46%. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. KeyCorp’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that KeyCorp will post $1.06 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in KEY. Wealthfront Inc. acquired a new position in KeyCorp during the second quarter worth approximately $123,000. Sigma Investment Management Co increased its position in KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,135 shares during the last quarter. Regentatlantic Capital LLC acquired a new position in KeyCorp during the second quarter worth approximately $134,000. Mizuho Asset Management Co. Ltd. increased its position in KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock worth $136,000 after buying an additional 5,639 shares during the last quarter. Finally, Stephens Inc. AR increased its position in KeyCorp by 18.4% in the second quarter. Stephens Inc. AR now owns 13,266 shares of the financial services provider’s stock worth $147,000 after buying an additional 2,064 shares during the last quarter. 66.25% of the stock is owned by institutional investors.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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