KeyCorp (KEY) Upgraded at Vetr Inc.
KeyCorp (NYSE:KEY) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Thursday. The firm currently has a $14.14 price target on the financial services provider’s stock. Vetr‘s price objective indicates a potential upside of 14.87% from the company’s previous close.
KEY has been the subject of a number of other reports. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of KeyCorp in a report on Wednesday. Citigroup Inc. boosted their target price on shares of KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 22nd. Nomura restated a “buy” rating and issued a $12.00 target price on shares of KeyCorp in a report on Sunday, July 10th. Finally, Jefferies Group restated a “buy” rating on shares of KeyCorp in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. KeyCorp presently has an average rating of “Buy” and an average price target of $14.41.
Shares of KeyCorp (NYSE:KEY) traded down 3.07% during midday trading on Thursday, hitting $12.31. 14,401,533 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $12.38 and its 200-day moving average is $11.96. KeyCorp has a 1-year low of $9.88 and a 1-year high of $14.01. The stock has a market cap of $13.32 billion, a PE ratio of 12.73 and a beta of 1.21.
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KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. KeyCorp’s revenue was down .1% compared to the same quarter last year. Analysts predict that KeyCorp will post $1.06 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in KEY. Bank of Montreal Can purchased a new position in KeyCorp during the second quarter valued at approximately $185,766,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in KeyCorp by 225.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,372,753 shares of the financial services provider’s stock valued at $114,619,000 after buying an additional 7,181,216 shares during the last quarter. Samlyn Capital LLC increased its stake in KeyCorp by 69.5% in the first quarter. Samlyn Capital LLC now owns 14,217,900 shares of the financial services provider’s stock valued at $156,966,000 after buying an additional 5,830,900 shares during the last quarter. Renaissance Technologies LLC bought a new stake in KeyCorp during the first quarter valued at $30,658,000. Finally, Emerald Acquisition Ltd. bought a new stake in KeyCorp during the second quarter valued at $27,938,000. 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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