KeyCorp (NYSE:KEY) Lowered to Hold at Baird R W

Baird R W cut shares of KeyCorp (NYSE:KEY) from a strong-buy rating to a hold rating in a report published on Monday, Zacks.com reports.

A number of other research firms have also recently commented on KEY. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $15.00 in a report on Monday, July 8th. Morgan Stanley upped their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of KeyCorp in a report on Tuesday, August 13th. Citigroup upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

KeyCorp Trading Down 2.6 %

KeyCorp stock opened at $17.25 on Monday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.94. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The business’s fifty day simple moving average is $16.56 and its two-hundred day simple moving average is $15.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, equities analysts predict that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently modified their holdings of the company. Trust Co. of Vermont lifted its position in shares of KeyCorp by 582.3% in the third quarter. Trust Co. of Vermont now owns 2,729 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 2,329 shares in the last quarter. Rheos Capital Works Inc. lifted its holdings in KeyCorp by 20.0% in the 3rd quarter. Rheos Capital Works Inc. now owns 600,000 shares of the financial services provider’s stock worth $10,050,000 after purchasing an additional 100,000 shares in the last quarter. B.O.S.S. Retirement Advisors LLC lifted its holdings in KeyCorp by 3.5% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 117,013 shares of the financial services provider’s stock worth $1,960,000 after purchasing an additional 3,960 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.