KeyCorp (KEY) Rating Lowered to Hold at ValuEngine
KeyCorp (NYSE:KEY) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Several other analysts also recently issued reports on KEY. BMO Capital Markets restated a “buy” rating and set a $22.00 price objective on shares of KeyCorp in a report on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a report on Friday, July 28th. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Wells Fargo & Co started coverage on KeyCorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $19.00 price objective on the stock. Finally, Sanford C. Bernstein upgraded KeyCorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $21.00 to $22.00 in a report on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. KeyCorp currently has a consensus rating of “Hold” and an average price target of $20.82.
Shares of KeyCorp (NYSE:KEY) opened at $18.16 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $19,400.00, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. KeyCorp has a twelve month low of $16.28 and a twelve month high of $19.53.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. equities analysts expect that KeyCorp will post 1.37 earnings per share for the current year.
In related news, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the transaction, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 7,600 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the transaction, the director now owns 68,725 shares in the company, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock worth $1,060,508 in the last quarter. 0.65% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Zions Bancorporation increased its holdings in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in KeyCorp during the third quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in KeyCorp during the third quarter worth approximately $145,000. Sun Life Financial INC boosted its position in KeyCorp by 80,370.0% during the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares during the period. Finally, AllSquare Wealth Management LLC bought a new stake in KeyCorp during the third quarter worth approximately $173,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.
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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