KeyCorp (KEY) Upgraded at Deutsche Bank

KeyCorp (NYSE:KEY) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $24.00 target price on the financial services provider’s stock, up from their prior target price of $23.00. Deutsche Bank’s price target suggests a potential upside of 9.94% from the company’s previous close.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, Vining Sparks reaffirmed a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. KeyCorp presently has an average rating of “Buy” and a consensus price target of $22.07.

KeyCorp (NYSE:KEY) traded up $0.16 on Thursday, hitting $21.83. The company had a trading volume of 8,423,674 shares, compared to its average volume of 9,040,000. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $23,480.00, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $21.88.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company earned $0.31 earnings per share. research analysts forecast that KeyCorp will post 1.68 earnings per share for the current fiscal year.

In related news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at $455,549.47. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised 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 purchasing an additional 1,765,263 shares during the period. Boston Partners purchased a new position in shares of KeyCorp in the 3rd quarter worth about $356,111,000. Bessemer Group Inc. raised its holdings in shares of 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 purchasing an additional 64,958 shares during the period. Janus Henderson Group PLC grew its stake in shares of KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after buying an additional 8,962,913 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in shares of KeyCorp by 1.4% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 7,987,775 shares of the financial services provider’s stock valued at $149,691,000 after buying an additional 106,772 shares in the last quarter. Institutional investors own 81.00% of the company’s stock.

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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.

Analyst Recommendations for KeyCorp (NYSE:KEY)



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