KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Thursday, October 19th. They currently have a $21.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 14.32% from the company’s current price.
Several other research analysts have also recently weighed in on KEY. Wells Fargo & Company assumed coverage on shares of KeyCorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Wednesday, September 27th. BidaskClub lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of KeyCorp in a research report on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. KeyCorp presently has an average rating of “Hold” and an average price target of $20.31.
Shares of KeyCorp (NYSE:KEY) opened at 18.37 on Thursday. The company has a 50-day moving average price of $18.19 and a 200 day moving average price of $18.17. The stock has a market capitalization of $19.98 billion, a P/E ratio of 18.24 and a beta of 1.13. KeyCorp has a 52 week low of $13.83 and a 52 week high of $19.53.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Analysts forecast that KeyCorp will post $1.31 earnings per share for the current fiscal year.
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In related news, insider Amy G. Brady sold 18,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $18.42, for a total value of $331,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Ann M. Gillis purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $18.00 per share, with a total value of $54,000.00. Following the completion of the purchase, the director now owns 10,551 shares of the company’s stock, valued at $189,918. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 277,636 shares of company stock valued at $5,149,949. Insiders own 0.65% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cypress Capital Management LLC WY raised its stake in KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares in the last quarter. Sun Life Financial INC raised its stake in KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares in the last quarter. Quantbot Technologies LP bought a new position in KeyCorp in the second quarter worth about $174,000. First Financial Bank Trust Division bought a new position in KeyCorp in the second quarter worth about $192,000. Finally, Equity Investment Corp Acquisition Inc raised its stake in KeyCorp by 3.9% in the second quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock worth $196,000 after buying an additional 390 shares in the last quarter. 80.64% of the stock is owned by institutional investors.
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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