KeyCorp (NYSE:KEY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “KeyCorp’s shares have outperformed the industry over the past six months. Also, the company has an impressive earnings surprise history, not lagging the Zacks Consensus Estimate in three of the trailing four quarters. The company’s fourth-quarter 2017 results benefited from higher revenues and stable expenses. The bank remains well positioned for revenue growth, given a rising rate environment and improving loan and deposit balances. Improving credit quality and enhanced capital deployment activities are the other positives. Also, corporate tax rate cut will aid profitability to some extent. However, persistently increasing expenses owing to investments in franchise and acquisitions are likely to hurt bottom-line growth. Further, the company's significant exposure toward risky loan portfolios remains a major cause of concern.”

Several other research analysts have also recently weighed in on KEY. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a research report on Thursday, October 19th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. ValuEngine cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. CIBC restated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Finally, Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. KeyCorp currently has a consensus rating of “Buy” and an average target price of $22.07.

KeyCorp (KEY) traded down $0.09 during mid-day trading on Tuesday, hitting $20.50. 3,987,270 shares of the company traded hands, compared to its average volume of 10,519,673. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $21,798.62, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. KeyCorp has a one year low of $16.28 and a one year high of $22.22.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the prior year, the business earned $0.31 earnings per share. equities analysts anticipate that KeyCorp will post 1.67 earnings per share for the current fiscal year.

In other news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the completion of the sale, the insider now owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth R. Gile acquired 1,374 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the purchase, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in KeyCorp by 78.0% in the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock worth $1,055,000 after acquiring an additional 24,554 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in KeyCorp by 2.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock worth $67,299,000 after acquiring an additional 71,018 shares during the period. New England Research & Management Inc. lifted its stake in KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 5,750 shares during the period. Toronto Dominion Bank lifted its stake in KeyCorp by 11.1% in the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock worth $8,071,000 after acquiring an additional 42,971 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in KeyCorp in the third quarter worth $268,000. 82.19% of the stock is owned by hedge funds and other institutional investors.

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About KeyCorp

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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