KeyCorp (KEY) Receives Outperform Rating from Keefe, Bruyette & Woods
Several other research analysts also recently issued reports on KEY. Deutsche Bank AG reaffirmed a hold rating and set a $13.00 price objective on shares of KeyCorp in a report on Wednesday, June 15th. Zacks Investment Research downgraded KeyCorp from a hold rating to a sell rating in a report on Tuesday, June 28th. Jefferies Group reaffirmed a buy rating on shares of KeyCorp in a report on Wednesday, June 29th. Citigroup Inc. reiterated a buy rating on shares of KeyCorp in a research report on Wednesday, June 29th. Finally, Morgan Stanley upgraded shares of KeyCorp from an equal weight rating to an overweight rating and set a $15.00 target price for the company in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $14.39.
Shares of KeyCorp (NYSE:KEY) traded down 3.110% during mid-day trading on Wednesday, hitting $12.305. The stock had a trading volume of 5,372,528 shares. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 12.725 and a beta of 1.21. KeyCorp has a 12-month low of $9.88 and a 12-month high of $14.01. The stock’s 50-day moving average price is $12.38 and its 200-day moving average price is $11.96.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post $1.06 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in KEY. MSI Financial Services Inc raised its position in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock valued at $109,000 after buying an additional 860 shares during the last quarter. Gulf International Bank UK Ltd raised its position in KeyCorp by 29.6% in the third quarter. Gulf International Bank UK Ltd now owns 327,647 shares of the financial services provider’s stock valued at $3,987,000 after buying an additional 74,744 shares during the last quarter. AT Bancorp purchased a new position in KeyCorp during the third quarter valued at about $1,210,000. Capstone Asset Management Co. raised its position in KeyCorp by 5.3% in the third quarter. Capstone Asset Management Co. now owns 110,804 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 5,595 shares during the last quarter. Finally, Creative Planning raised its position in KeyCorp by 126.2% in the third quarter. Creative Planning now owns 110,184 shares of the financial services provider’s stock valued at $1,341,000 after buying an additional 61,463 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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