KeyCorp (KEY) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of KeyCorp (NYSE:KEY) from a buy rating to a strong-buy rating in a report issued on Thursday morning. The firm currently has $14.14 price objective on the financial services provider’s stock.
KEY has been the topic of several other reports. Citigroup Inc. reaffirmed a buy rating on shares of KeyCorp in a research report on Wednesday, June 29th. JPMorgan Chase & Co. assumed coverage on KeyCorp in a research report on Monday, July 25th. They issued an overweight rating and a $14.00 price target on the stock. Wedbush assumed coverage on KeyCorp in a research report on Thursday, October 6th. They issued an outperform rating and a $15.00 price target on the stock. Morgan Stanley raised KeyCorp from an equal weight rating to an overweight rating and set a $15.00 price target on the stock in a research report on Tuesday, July 5th. Finally, Barclays PLC reaffirmed a sell rating on shares of KeyCorp in a research report on Saturday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. KeyCorp currently has an average rating of Buy and an average price target of $14.41.
Shares of KeyCorp (NYSE:KEY) traded up 2.19% during mid-day trading on Thursday, hitting $12.58. The stock had a trading volume of 4,534,162 shares. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 13.01 and a beta of 1.21. The firm has a 50 day moving average of $12.38 and a 200 day moving average of $11.96. KeyCorp has a one year low of $9.88 and a one year high of $14.01.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. On average, analysts forecast that KeyCorp will post $1.06 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD raised its position in shares of KeyCorp by 0.3% in the first quarter. BlackRock Group LTD now owns 9,052,950 shares of the financial services provider’s stock valued at $99,944,000 after buying an additional 25,898 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of KeyCorp by 3.7% in the first quarter. BlackRock Japan Co. Ltd now owns 1,454,855 shares of the financial services provider’s stock valued at $16,062,000 after buying an additional 51,704 shares during the period. Sentry Investment Management LLC raised its position in shares of KeyCorp by 6.4% in the first quarter. Sentry Investment Management LLC now owns 49,134 shares of the financial services provider’s stock valued at $542,000 after buying an additional 2,955 shares during the period. Columbia Partners L L C Investment Management purchased a new position in shares of KeyCorp during the first quarter valued at about $898,000. Finally, Menta Capital LLC purchased a new position in shares of KeyCorp during the first quarter valued at about $609,000. 66.25% of the stock is owned by institutional investors.
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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