KeyCorp (NYSE:KEY) was downgraded by research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Wednesday. They presently have a $19.00 price objective on the financial services provider’s stock, up from their previous price objective of $17.00. Sanford C. Bernstein’s target price points to a potential upside of 11.76% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Susquehanna cut shares of KeyCorp from a “positive” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 9th. Citigroup Inc. cut shares of KeyCorp from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target (up previously from $15.00) on shares of KeyCorp in a report on Friday, October 28th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of KeyCorp in a report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. KeyCorp has a consensus rating of “Buy” and a consensus price target of $14.84.

Analyst Recommendations for KeyCorp (NYSE:KEY)

Shares of KeyCorp (NYSE:KEY) opened at 17.00 on Wednesday. The firm has a market cap of $18.37 billion, a P/E ratio of 19.59 and a beta of 1.00. The firm has a 50 day moving average price of $13.69 and a 200-day moving average price of $12.43. KeyCorp has a one year low of $9.88 and a one year high of $17.12.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. KeyCorp had a net margin of 15.72% and a return on equity of 8.44%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. Analysts forecast that KeyCorp will post $1.10 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 29th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.00%. KeyCorp’s dividend payout ratio (DPR) is 39.08%.

Several institutional investors have recently modified their holdings of KEY. NN Investment Partners Holdings N.V. increased its position in shares of KeyCorp by 35.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 3,522,313 shares of the financial services provider’s stock valued at $38,921,000 after buying an additional 917,996 shares during the period. Creative Planning increased its position in shares of KeyCorp by 41.8% in the second quarter. Creative Planning now owns 48,721 shares of the financial services provider’s stock valued at $538,000 after buying an additional 14,351 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of KeyCorp by 2.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 719,602 shares of the financial services provider’s stock valued at $7,952,000 after buying an additional 14,536 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in shares of KeyCorp by 7.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 218,048 shares of the financial services provider’s stock valued at $2,409,000 after buying an additional 14,598 shares during the period. Finally, Park National Corp OH increased its position in shares of KeyCorp by 16.3% in the second quarter. Park National Corp OH now owns 64,747 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,070 shares during the period. 70.15% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:KEY

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