ValuEngine Downgrades KeyCorp (KEY) to Hold
KeyCorp (NYSE:KEY) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Other analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research report on Friday, July 28th. Wells Fargo & Company began coverage on KeyCorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 price target for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $22.00 price target on shares of KeyCorp in a research report on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.82.
Shares of KeyCorp (KEY) traded down $0.12 on Wednesday, reaching $18.16. The company’s stock had a trading volume of 9,206,923 shares, compared to its average volume of 10,899,452. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $19,851.88, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $19.53.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. equities research analysts forecast that KeyCorp will post 1.37 EPS for the current year.
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In other news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $447,000. GSA Capital Partners LLP lifted its stake in shares of KeyCorp by 21.1% in the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after purchasing an additional 8,937 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of KeyCorp by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 2,992,221 shares of the financial services provider’s stock valued at $56,314,000 after purchasing an additional 74,117 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of KeyCorp by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 18,181 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of KeyCorp by 321.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,054,941 shares of the financial services provider’s stock valued at $19,854,000 after purchasing an additional 804,841 shares during the last quarter. 82.42% of the stock is owned by institutional investors and hedge funds.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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