KeyCorp (NYSE:KEY) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other research analysts have also recently commented on KEY. Truist Financial reduced their price target on shares of KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, March 23rd. The Goldman Sachs Group increased their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Evercore reiterated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Finally, Morgan Stanley reduced their price target on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $23.18.

KeyCorp Stock Down 0.4%

Shares of NYSE KEY opened at $21.61 on Friday. KeyCorp has a one year low of $15.28 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $20.72 and its two-hundred day simple moving average is $20.27. The stock has a market capitalization of $23.42 billion, a P/E ratio of 13.25, a PEG ratio of 0.69 and a beta of 1.06.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts expect that KeyCorp will post 1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. United Community Bank bought a new position in shares of KeyCorp in the third quarter worth approximately $27,000. Maseco LLP bought a new position in shares of KeyCorp in the fourth quarter worth approximately $27,000. DV Equities LLC bought a new position in shares of KeyCorp in the fourth quarter worth approximately $27,000. GoalVest Advisory LLC bought a new position in shares of KeyCorp in the fourth quarter worth approximately $30,000. Finally, Smithfield Trust Co bought a new position in shares of KeyCorp in the fourth quarter worth approximately $31,000. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.