KeyCorp (KEY) Stock Rating Lowered by ValuEngine
KeyCorp (NYSE:KEY) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Sanford C. Bernstein raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $22.00 in a research note on Thursday, September 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research note on Friday, July 28th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Friday, October 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 price target on shares of KeyCorp in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.82.
Shares of KeyCorp (NYSE KEY) traded down $0.12 during trading hours on Wednesday, hitting $18.16. 9,206,923 shares of the stock were exchanged, compared to its average volume of 10,899,452. The firm has a market cap of $19,851.88, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.68 and a beta of 1.10. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.53. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. equities analysts forecast that KeyCorp will post 1.37 earnings per share for the current fiscal year.
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In other KeyCorp news, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the transaction, the director now owns 68,725 shares in the company, valued at approximately $1,263,852.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the transaction, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,212 shares of company stock worth $1,060,508. Company insiders own 0.65% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in KEY. Eqis Capital Management Inc. acquired a new position in KeyCorp in the 2nd quarter valued at approximately $217,000. Manning & Napier Advisors LLC increased its stake in KeyCorp by 3.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 74,978 shares of the financial services provider’s stock valued at $1,404,000 after buying an additional 2,715 shares during the period. Quantitative Systematic Strategies LLC increased its stake in KeyCorp by 74.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 40,466 shares of the financial services provider’s stock valued at $757,000 after buying an additional 17,262 shares during the period. Investment Partners Ltd. OH ADV increased its stake in KeyCorp by 9.1% in the 2nd quarter. Investment Partners Ltd. OH ADV now owns 21,111 shares of the financial services provider’s stock valued at $396,000 after buying an additional 1,765 shares during the period. Finally, Tributary Capital Management LLC increased its stake in KeyCorp by 353.8% in the 2nd quarter. Tributary Capital Management LLC now owns 124,800 shares of the financial services provider’s stock valued at $2,339,000 after buying an additional 97,300 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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