Zacks Investment Research downgraded shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

According to Zacks, “KeyCorp’s shares have significantly underperformed the industry over the past six months. Yet, the company has an impressive earnings surprise history, not lagging the Zacks Consensus Estimate in the trailing four quarters. The company’s third-quarter 2017 results benefited from a rise in revenues and lower credit cost while an increase in expenses was a headwind. Though the bank remains well positioned to benefit from rising rate environment and growth in loan and deposit balances, persistently increasing expenses owing to investments in franchise and acquisitions are likely to hurt bottom-line growth. Also, significant exposure to real estate loans continues to be a major concern.”

Other equities research analysts have also issued reports about the company. UBS AG upgraded KeyCorp from a neutral rating to a buy rating and increased their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Jefferies Group LLC restated a buy rating and set a $21.00 price target on shares of KeyCorp in a research report on Friday, July 14th. Instinet restated a buy rating and set a $23.00 price target on shares of KeyCorp in a research report on Wednesday, July 12th. Piper Jaffray Companies restated a buy rating and set a $20.50 price target on shares of KeyCorp in a research report on Friday, July 21st. Finally, DA Davidson upgraded KeyCorp from a neutral rating to a buy rating and increased their price target for the stock from $20.00 to $21.00 in a research report on Thursday, July 20th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. KeyCorp presently has an average rating of Hold and a consensus price target of $20.53.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS.

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In related news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. In the last three months, insiders sold 72,612 shares of company stock worth $1,344,704. 0.65% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of KEY. Cypress Capital Management LLC WY raised its stake in KeyCorp by 177.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in KeyCorp during the 3rd quarter worth $145,000. Sun Life Financial INC raised its stake in KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares during the period. Quantbot Technologies LP acquired a new stake in KeyCorp during the 2nd quarter worth $174,000. Finally, First Financial Bank Trust Division acquired a new stake in KeyCorp during the 2nd quarter worth $192,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company Profile

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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