Oppenheimer Holdings, Inc. restated their hold rating on shares of KeyCorp (NYSE:KEY) in a research report released on Friday, October 20th. Oppenheimer Holdings also issued estimates for KeyCorp’s Q4 2017 earnings at $0.36 EPS.
A number of other brokerages have also recently weighed in on KEY. Zacks Investment Research upgraded shares of KeyCorp from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods upgraded shares of KeyCorp from a market perform rating to an outperform rating and set a $21.00 price objective on the stock in a research note on Monday, July 10th. Instinet reiterated a buy rating and issued a $23.00 price target on shares of KeyCorp in a research report on Wednesday, July 12th. UBS AG upgraded shares of KeyCorp from a neutral rating to a buy rating and boosted their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $21.00 price target on shares of KeyCorp in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. KeyCorp currently has a consensus rating of Hold and an average price target of $20.53.
Shares of KeyCorp (NYSE:KEY) opened at 18.37 on Friday. KeyCorp has a 1-year low of $13.83 and a 1-year high of $19.53. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 18.24 and a beta of 1.13. The stock has a 50 day moving average of $18.29 and a 200-day moving average of $18.18.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts anticipate that KeyCorp will post $1.31 EPS for the current fiscal year.
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In other news, Director Ruth Ann M. Gillis acquired 3,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the director now owns 10,551 shares in the company, valued at approximately $189,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,636 shares of company stock valued at $5,149,949. Corporate insiders own 0.65% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of KeyCorp by 78.0% during the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after purchasing an additional 24,554 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of KeyCorp by 447.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,182,062 shares of the financial services provider’s stock valued at $21,040,000 after purchasing an additional 966,000 shares during the period. Trust Co. of Toledo NA OH increased its position in shares of KeyCorp by 0.4% during the second quarter. Trust Co. of Toledo NA OH now owns 42,951 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 178 shares during the period. Flippin Bruce & Porter Inc. increased its position in shares of KeyCorp by 3.9% during the second quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock valued at $8,468,000 after purchasing an additional 17,103 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in shares of KeyCorp by 1.3% during the second quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 534 shares during the period. Institutional investors and hedge funds own 80.64% of the company’s stock.
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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