Sandler O’Neill Reiterates Hold Rating for KeyCorp (KEY)

KeyCorp (NYSE:KEY)‘s stock had its “hold” rating reissued by equities researchers at Sandler O’Neill in a report issued on Friday. They currently have a $21.50 target price on the financial services provider’s stock. Sandler O’Neill’s price objective would indicate a potential upside of 1.61% from the company’s current price.

KEY has been the subject of a number of other research reports. Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 target price on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Citigroup lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.98.

Shares of KeyCorp (KEY) opened at $21.16 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.89. KeyCorp has a 1 year low of $16.28 and a 1 year high of $21.71. The company has a market cap of $22,755.46, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. equities analysts expect that KeyCorp will post 1.67 earnings per share for the current year.

In other news, General Counsel Paul N. Harris sold 2,758 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, with a total value of $25,048.02. Following the transaction, the director now owns 24,989 shares in the company, valued at $455,549.47. The disclosure for this purchase can be found here. In the last three months, insiders have sold 57,212 shares of company stock valued at $1,060,508. Insiders own 0.65% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after buying an additional 4,230,390 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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. Boston Partners bought a new position in KeyCorp in the 3rd quarter worth $356,111,000. Northern Trust Corp boosted its holdings in KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after buying an additional 231,558 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in KeyCorp by 0.5% in the 3rd quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock worth $227,079,000 after buying an additional 64,958 shares during the period. 81.01% of the stock is owned by institutional investors.

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About KeyCorp

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.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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