KeyCorp (NYSE:KEY)‘s stock had its “hold” rating restated by equities researchers at Scotiabank in a note issued to investors on Friday.
KEY has been the subject of a number of other reports. Zacks Investment Research lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Jefferies Financial Group reissued a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research note on Friday, July 13th. Wedbush set a $23.00 price target on KeyCorp and gave the stock a “buy” rating in a research note on Thursday, September 13th. Standpoint Research raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Finally, BMO Capital Markets decreased their price target on KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.39.
Shares of NYSE:KEY traded up $0.15 during trading on Friday, hitting $18.89. The company had a trading volume of 13,575,744 shares, compared to its average volume of 15,782,808. KeyCorp has a one year low of $16.48 and a one year high of $22.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.69 and a beta of 1.00.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company earned $0.32 EPS. KeyCorp’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that KeyCorp will post 1.73 earnings per share for the current fiscal year.
In related news, insider Donald R. Kimble purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were acquired at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the acquisition, the insider now owns 253,847 shares of the company’s stock, valued at approximately $4,708,861.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas M. Schosser sold 6,048 shares of KeyCorp stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total value of $129,971.52. Following the completion of the transaction, the insider now owns 23,164 shares in the company, valued at $497,794.36. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Several large investors have recently made changes to their positions in KEY. JPMorgan Chase & Co. increased its holdings in shares of KeyCorp by 33.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock valued at $719,551,000 after acquiring an additional 9,086,291 shares during the period. Millennium Management LLC increased its holdings in shares of KeyCorp by 87.4% in the 2nd quarter. Millennium Management LLC now owns 14,025,846 shares of the financial services provider’s stock valued at $274,065,000 after acquiring an additional 6,540,895 shares during the period. FMR LLC increased its holdings in shares of KeyCorp by 33.5% in the 3rd quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock valued at $332,143,000 after acquiring an additional 4,186,177 shares during the period. Schroder Investment Management Group increased its holdings in shares of KeyCorp by 418.2% in the 2nd quarter. Schroder Investment Management Group now owns 3,086,919 shares of the financial services provider’s stock valued at $60,504,000 after acquiring an additional 2,491,167 shares during the period. Finally, Boston Partners increased its holdings in shares of KeyCorp by 5.3% in the 2nd quarter. Boston Partners now owns 27,717,101 shares of the financial services provider’s stock valued at $541,592,000 after acquiring an additional 1,396,181 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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