KeyCorp (KEY) Raised to Strong-Buy at Vetr Inc.
KeyCorp (NYSE:KEY) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The brokerage currently has a $14.14 price objective on the financial services provider’s stock. Vetr‘s price target indicates a potential upside of 14.87% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Citigroup Inc. raised their price objective on shares of KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Morgan Stanley raised shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Tuesday, July 5th. Zacks Investment Research raised shares of KeyCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Piper Jaffray Cos. downgraded shares of KeyCorp from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.50 to $13.00 in a research note on Monday, August 29th. Finally, FBR & Co raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and set a $12.50 price target for the company in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $14.41.
KeyCorp (NYSE:KEY) traded down 3.07% during midday trading on Thursday, reaching $12.31. The company had a trading volume of 14,401,533 shares. KeyCorp has a one year low of $9.88 and a one year high of $14.01. The company has a 50-day moving average price of $12.38 and a 200-day moving average price of $11.96. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 12.73 and a beta of 1.21.
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KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. KeyCorp had a net margin of 17.81% and a return on equity of 8.46%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, equities analysts expect that KeyCorp will post $1.06 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of KeyCorp during the second quarter worth $185,766,000. Renaissance Technologies LLC purchased a new position in shares of KeyCorp during the first quarter worth $30,658,000. Samlyn Capital LLC increased its position in shares of KeyCorp by 69.5% in the first quarter. Samlyn Capital LLC now owns 14,217,900 shares of the financial services provider’s stock worth $156,966,000 after buying an additional 5,830,900 shares during the period. Boston Advisors LLC increased its position in shares of KeyCorp by 3.4% in the second quarter. Boston Advisors LLC now owns 1,064,933 shares of the financial services provider’s stock worth $11,768,000 after buying an additional 35,237 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of KeyCorp by 2.7% in the first quarter. Geode Capital Management LLC now owns 7,476,448 shares of the financial services provider’s stock worth $82,386,000 after buying an additional 195,301 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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