KeyCorp (KEY) Earns Outperform Rating from FBR & Co
KeyCorp (NYSE:KEY)‘s stock had its “outperform” rating reiterated by FBR & Co in a report released on Thursday. They currently have a $22.00 target price on the financial services provider’s stock. FBR & Co’s price objective points to a potential upside of 21.21% from the company’s current price.
Several other brokerages have also recently issued reports on KEY. Keefe, Bruyette & Woods set a $18.00 price objective on KeyCorp and gave the company a “hold” rating in a research note on Saturday, March 25th. Sandler O’Neill cut KeyCorp from a “buy” rating to a “hold” rating in a research note on Friday, January 20th. Barclays PLC increased their price objective on KeyCorp from $14.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 3rd. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. Finally, DA Davidson initiated coverage on KeyCorp in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.85.
Shares of KeyCorp (NYSE:KEY) traded down 0.33% during midday trading on Thursday, hitting $18.15. The company had a trading volume of 13,161,255 shares. The company has a 50-day moving average of $17.84 and a 200-day moving average of $17.10. KeyCorp has a 12 month low of $10.21 and a 12 month high of $19.53. The company has a market capitalization of $19.46 billion, a PE ratio of 22.66 and a beta of 1.13.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. KeyCorp had a return on equity of 8.73% and a net margin of 13.99%. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. Analysts predict that KeyCorp will post $1.32 earnings per share for the current year.
In other news, Director Ruth Ann M. Gillis acquired 4,800 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were bought at an average price of $17.66 per share, with a total value of $84,768.00. Following the completion of the acquisition, the director now owns 5,934 shares in the company, valued at approximately $104,794.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. MCF Advisors LLC raised its position in shares of KeyCorp by 0.7% in the third quarter. MCF Advisors LLC now owns 8,598 shares of the financial services provider’s stock valued at $105,000 after buying an additional 59 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new position in shares of KeyCorp during the third quarter valued at about $109,000. Checchi Capital Advisers LLC raised its position in shares of KeyCorp by 55.6% in the third quarter. Checchi Capital Advisers LLC now owns 10,231 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,657 shares during the last quarter. Carret Asset Management LLC purchased a new position in shares of KeyCorp during the third quarter valued at about $136,000. Finally, HL Financial Services LLC raised its position in shares of KeyCorp by 8.6% in the third quarter. HL Financial Services LLC now owns 12,574 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,000 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.
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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