KeyCorp (KEY) Downgraded by Standpoint Research to Hold
KEY has been the subject of several other research reports. Keefe, Bruyette & Woods restated an outperform rating on shares of KeyCorp in a research report on Wednesday, October 12th. Zacks Investment Research upgraded shares of KeyCorp from a sell rating to a hold rating in a research note on Tuesday, October 4th. Wedbush reiterated an outperform rating and issued a $16.00 price objective (up previously from $15.00) on shares of KeyCorp in a research note on Friday, October 28th. Vetr upgraded shares of KeyCorp from a buy rating to a strong-buy rating and set a $14.14 price objective on the stock in a research note on Thursday, October 13th. Finally, Citigroup Inc. lowered shares of KeyCorp from a buy rating to a neutral rating in a research note on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $14.84.
KeyCorp (NYSE:KEY) opened at 17.18 on Monday. KeyCorp has a 12-month low of $9.88 and a 12-month high of $17.29. The company’s 50 day moving average is $14.10 and its 200 day moving average is $12.54. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 19.79 and a beta of 1.00.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business earned $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. KeyCorp had a net margin of 15.72% and a return on equity of 8.44%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts anticipate that KeyCorp will post $1.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, November 25th. KeyCorp’s payout ratio is currently 39.08%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 123.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 41,961,531 shares of the financial services provider’s stock worth $510,672,000 after buying an additional 23,213,619 shares during the last quarter. Bank of Montreal Can bought a new position in shares of KeyCorp during the second quarter worth $185,766,000. Lazard Asset Management LLC raised its position in shares of KeyCorp by 17,631.0% in the third quarter. Lazard Asset Management LLC now owns 9,217,111 shares of the financial services provider’s stock worth $112,171,000 after buying an additional 9,165,128 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of KeyCorp by 225.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,372,753 shares of the financial services provider’s stock worth $114,619,000 after buying an additional 7,181,216 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of KeyCorp by 167.2% in the third quarter. BlackRock Advisors LLC now owns 9,647,438 shares of the financial services provider’s stock worth $117,410,000 after buying an additional 6,036,790 shares during the last quarter. 71.65% of the stock is currently owned by hedge funds and other 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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