KeyCorp (NYSE:KEY) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.

Several other brokerages have also recently weighed in on KEY. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein cut KeyCorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Standpoint Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Citigroup Inc. cut KeyCorp from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. Finally, Susquehanna cut 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. KeyCorp has an average rating of “Buy” and a consensus price target of $14.84.

Analyst Recommendations for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY) opened at 17.00 on Tuesday. The firm has a market capitalization of $18.37 billion, a PE ratio of 19.59 and a beta of 1.00. The stock has a 50 day moving average price of $14.68 and a 200-day moving average price of $12.70. KeyCorp has a one year low of $9.88 and a one year high of $17.57.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company earned $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. KeyCorp’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. On average, equities 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. Shareholders of record on Tuesday, November 29th will be given a dividend of $0.085 per share. The ex-dividend date is Friday, November 25th. This represents a $0.34 annualized dividend and a yield of 2.00%. KeyCorp’s dividend payout ratio is currently 39.08%.

COPYRIGHT VIOLATION WARNING: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2016/11/29/keycorp-key-downgraded-by-keefe-bruyette-woods-to-market-perform.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in shares of KeyCorp by 31.1% in the first quarter. Envestnet Asset Management Inc. now owns 151,554 shares of the financial services provider’s stock valued at $1,673,000 after buying an additional 35,976 shares during the period. LPL Financial LLC increased its position in shares of KeyCorp by 26.0% in the first quarter. LPL Financial LLC now owns 86,305 shares of the financial services provider’s stock valued at $932,000 after buying an additional 17,827 shares during the period. 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. 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, 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. Institutional investors and hedge funds own 78.55% 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.

5 Day Chart for NYSE:KEY

Receive News & Stock Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related stocks with our FREE daily email newsletter.