KeyCorp (KEY) Given “Overweight” Rating at Morgan Stanley
KeyCorp (NYSE:KEY)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a report released on Thursday. They presently have a $23.00 target price on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 16.75% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research report on Thursday, October 19th. CIBC reiterated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. KeyCorp has an average rating of “Buy” and an average target price of $21.15.
KeyCorp (KEY) traded down $0.30 during trading hours on Thursday, reaching $19.70. 9,142,000 shares of the company’s stock were exchanged, compared to its average volume of 10,968,431. The firm has a market capitalization of $21,508.00, a price-to-earnings ratio of 15.15, a PEG ratio of 1.82 and a beta of 1.10. KeyCorp has a 52-week low of $16.28 and a 52-week high of $20.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
In other news, General Counsel Paul N. Harris sold 2,758 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following the acquisition, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. Insiders sold 57,212 shares of company stock valued at $1,060,508 in the last ninety days. Insiders own 0.65% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after buying an additional 1,765,263 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of KeyCorp in the 3rd quarter worth $447,000. GSA Capital Partners LLP lifted its holdings in shares of KeyCorp by 21.1% in the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock worth $965,000 after buying an additional 8,937 shares during the period. California Public Employees Retirement System lifted its holdings in shares of KeyCorp by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 2,992,221 shares of the financial services provider’s stock worth $56,314,000 after buying an additional 74,117 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of KeyCorp by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock worth $1,768,000 after buying an additional 18,181 shares during the period. Institutional investors own 81.20% of the company’s stock.
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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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