KeyCorp (KEY) Given Consensus Recommendation of “Buy” by Brokerages
KeyCorp (NYSE:KEY) has been given a consensus recommendation of “Buy” by the twenty-nine brokerages that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.43.
KEY has been the subject of several recent analyst reports. Zacks Investment Research upgraded KeyCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG restated a “buy” rating on shares of KeyCorp in a research note on Monday, July 11th. Wells Fargo & Co. reiterated a “hold” rating on shares of KeyCorp in a research note on Saturday, July 9th. Piper Jaffray Cos. cut KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.50 to $13.00 in a research note on Monday, August 29th. Finally, Vetr upgraded KeyCorp from a “buy” rating to a “strong-buy” rating and set a $14.14 price objective for the company in a research note on Thursday, October 13th.
A number of institutional investors have recently added to or reduced their stakes in KEY. MSI Financial Services Inc increased its position in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock valued at $109,000 after buying an additional 860 shares during the period. Wealthfront Inc. acquired a new position in KeyCorp during the second quarter valued at $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 valued at $127,000 after buying an additional 1,135 shares during the period. Regentatlantic Capital LLC acquired a new position in KeyCorp during the second quarter valued at $134,000. Finally, 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 valued at $136,000 after buying an additional 5,639 shares during the period. Hedge funds and other institutional investors own 66.37% of the company’s stock.
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KeyCorp (NYSE:KEY) traded up 2.02% during midday trading on Tuesday, reaching $12.60. 10,667,529 shares of the company were exchanged. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 13.03 and a beta of 1.21. KeyCorp has a 52-week low of $9.88 and a 52-week high of $14.01. The company has a 50 day moving average of $12.39 and a 200-day moving average of $11.99.
KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that KeyCorp will post $1.06 earnings per share for the current fiscal year.
KeyCorp Company Profile
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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