Vetr Inc. Downgrades KeyCorp (KEY) to Buy
KeyCorp (NYSE:KEY) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They currently have a $14.14 target price on the financial services provider’s stock. Vetr‘s price target would suggest a potential upside of 11.96% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of KeyCorp in a report on Wednesday, October 12th. Wedbush started coverage on 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 raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Piper Jaffray Cos. lowered KeyCorp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.50 to $13.00 in a research report on Monday, August 29th. Finally, Citigroup Inc. increased their target price on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. KeyCorp has a consensus rating of “Buy” and a consensus price target of $14.38.
KeyCorp (NYSE:KEY) opened at 12.63 on Wednesday. KeyCorp has a 52-week low of $9.88 and a 52-week high of $14.01. The stock has a market cap of $13.67 billion, a PE ratio of 13.06 and a beta of 1.21. The firm has a 50-day moving average price of $12.40 and a 200 day moving average price of $12.01.
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KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The business earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $0.27 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, analysts forecast that KeyCorp will post $1.06 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. MSI Financial Services Inc raised its stake 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 last quarter. Wealthfront Inc. acquired a new stake in KeyCorp during the second quarter valued at about $123,000. Sigma Investment Management Co raised its stake 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 last quarter. Regentatlantic Capital LLC acquired a new stake in KeyCorp during the second quarter valued at about $134,000. Finally, Mizuho Asset Management Co. Ltd. raised its stake 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 last quarter. 66.37% of the stock is owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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