KeyCorp (NYSE:KEY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “KeyCorp’s shares have outperformed the industry over the past six months. Also, the company has an impressive earnings surprise history, not lagging the Zacks Consensus Estimate in three of the trailing four quarters. The company’s fourth-quarter 2017 results benefited from higher revenues and stable expenses. The bank remains well positioned for revenue growth, given a rising rate environment and improving loan and deposit balances. Improving credit quality and enhanced capital deployment activities are the other positives. Also, corporate tax rate cut will aid profitability to some extent. However, persistently increasing expenses owing to investments in franchise and acquisitions are likely to hurt bottom-line growth. Further, the company's significant exposure toward risky loan portfolios remains a major cause of concern.”

A number of other research firms have also recently commented on KEY. Morgan Stanley restated an “overweight” rating and issued a $23.00 price target on shares of KeyCorp in a report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $23.00 to $24.00 in a research note on Thursday, January 25th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.07.

Shares of KeyCorp (KEY) opened at $21.17 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. The company has a market cap of $21,969.68, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. KeyCorp has a twelve month low of $16.28 and a twelve month high of $22.22.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period last year, the company posted $0.31 earnings per share. equities analysts predict that KeyCorp will post 1.67 EPS for the current fiscal year.

In other news, Director Elizabeth R. Gile purchased 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEY. Zions Bancorporation lifted its position in shares of KeyCorp by 2,277.5% during the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of KeyCorp during the third quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of KeyCorp during the third quarter valued at about $145,000. AllSquare Wealth Management LLC bought a new stake in KeyCorp in the third quarter worth about $173,000. Finally, Connable Office Inc. bought a new stake in KeyCorp in the third quarter worth about $195,000. 82.19% of the stock is currently owned by institutional investors.

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KeyCorp Company Profile

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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