KeyCorp (NYSE:KEY) Price Target Cut to $39.00 by Analysts at TD Securities

KeyCorp (NYSE:KEY) had its target price cut by stock analysts at TD Securities from $42.00 to $39.00 in a report released on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would suggest a potential upside of 102.65% from the company’s current price.

A number of other analysts also recently commented on the stock. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Wednesday. Credit Suisse Group upgraded shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, August 7th. Piper Jaffray Companies set a $19.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank downgraded shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Friday, October 25th. Finally, UBS Group lifted their target price on shares of KeyCorp from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $24.89.

Shares of KEY stock traded down $0.05 during midday trading on Thursday, reaching $19.25. 1,379,778 shares of the company were exchanged, compared to its average volume of 9,586,161. KeyCorp has a 12 month low of $13.65 and a 12 month high of $19.48. The company has a market cap of $18.90 billion, a P/E ratio of 11.12, a PEG ratio of 2.62 and a beta of 1.29. The company’s 50 day moving average price is $17.88 and its two-hundred day moving average price is $17.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm earned $0.45 EPS. KeyCorp’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that KeyCorp will post 1.8 earnings per share for the current year.

In other KeyCorp news, General Counsel Paul N. Harris sold 173,777 shares of KeyCorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $18.50, for a total value of $3,214,874.50. Following the completion of the sale, the general counsel now directly owns 78,811 shares in the company, valued at $1,458,003.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trina M. Evans sold 25,436 shares of KeyCorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $18.32, for a total transaction of $465,987.52. Following the completion of the sale, the director now owns 108,678 shares of the company’s stock, valued at $1,990,980.96. The disclosure for this sale can be found here. Insiders sold 657,271 shares of company stock valued at $12,049,355 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Raymond James Trust N.A. raised its stake in KeyCorp by 4.0% during the 3rd quarter. Raymond James Trust N.A. now owns 14,372 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 555 shares during the last quarter. Hartford Investment Management Co. raised its stake in KeyCorp by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 156,120 shares of the financial services provider’s stock valued at $2,771,000 after purchasing an additional 564 shares during the last quarter. Signaturefd LLC raised its stake in KeyCorp by 9.0% during the 3rd quarter. Signaturefd LLC now owns 7,248 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 597 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in KeyCorp by 2.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 24,712 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 619 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in KeyCorp by 13.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,649 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 80.01% 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.

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