KeyCorp (KEY) Given “Buy” Rating at CIBC
KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reissued by stock analysts at CIBC in a research note issued to investors on Friday.
Several other equities analysts have also recently commented on KEY. Sanford C. Bernstein raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $22.00 in a research note on Thursday, September 14th. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Friday, October 6th. Citigroup boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.09.
KeyCorp (NYSE:KEY) opened at $19.73 on Friday. The company has a market cap of $21,389.70, a P/E ratio of 15.07, a P/E/G ratio of 1.81 and a beta of 1.10. KeyCorp has a 12 month low of $16.28 and a 12 month high of $20.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
In related news, General Counsel Paul N. Harris sold 2,758 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 over the last quarter. 0.65% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of KEY. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after purchasing an additional 1,765,263 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in KeyCorp in the 3rd quarter worth $447,000. GSA Capital Partners LLP raised its holdings in KeyCorp by 21.1% in the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock worth $965,000 after purchasing an additional 8,937 shares in the last quarter. California Public Employees Retirement System raised its holdings in 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 worth $56,314,000 after purchasing an additional 74,117 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in KeyCorp by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 18,181 shares in the last quarter. Institutional investors own 81.20% of the company’s stock.
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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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