KeyCorp (NYSE:KEY)’s share price reached a new 52-week low during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $24.00 to $21.00. BMO Capital Markets currently has an outperform rating on the stock. KeyCorp traded as low as $17.28 and last traded at $17.28, with a volume of 824715 shares changing hands. The stock had previously closed at $17.84.

Several other equities analysts have also issued reports on the company. Nomura reduced their target price on KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday. Standpoint Research raised KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine lowered KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Wedbush set a $23.00 price objective on KeyCorp and gave the company a “buy” rating in a report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Buy” and a consensus price target of $23.39.

In other KeyCorp news, insider Edward J. Burke sold 46,360 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $21.32, for a total transaction of $988,395.20. Following the completion of the transaction, the insider now directly owns 89,128 shares of the company’s stock, valued at $1,900,208.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas M. Schosser sold 6,048 shares of the 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 transaction, the insider now directly owns 23,164 shares of the company’s stock, valued at $497,794.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,954 shares of company stock valued at $7,120,124. 0.67% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC purchased a new stake in shares of KeyCorp during the second quarter worth $113,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of KeyCorp during the first quarter worth $114,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of KeyCorp by 8,462.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 6,093 shares in the last quarter. Reilly Financial Advisors LLC lifted its position in shares of KeyCorp by 408.3% during the third quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 5,104 shares in the last quarter. Finally, Edge Wealth Management LLC purchased a new stake in shares of KeyCorp during the second quarter worth $161,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

The stock has a market capitalization of $18.77 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.01.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, analysts forecast that KeyCorp will post 1.73 earnings per share for the current fiscal year.

KeyCorp announced that its board has initiated a stock repurchase program on Thursday, June 28th that authorizes the company to buyback $1.23 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About KeyCorp (NYSE:KEY)

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.

Further Reading: Growth Stocks

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