Sandler O’Neill Reiterates Hold Rating for KeyCorp (KEY)

KeyCorp (NYSE:KEY)‘s stock had its “hold” rating reissued by analysts at Sandler O’Neill in a report issued on Friday. They currently have a $21.50 price target on the financial services provider’s stock. Sandler O’Neill’s price objective would suggest a potential upside of 1.61% from the company’s current price.

KEY has been the subject of a number of other reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price target on shares of KeyCorp in a research note on Thursday, October 19th. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Barclays lifted their price target on shares of KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Citigroup lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Finally, Stephens raised shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.98.

KeyCorp (NYSE:KEY) traded up $0.34 during mid-day trading on Friday, hitting $21.16. 13,295,012 shares of the company were exchanged, compared to its average volume of 7,056,285. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.71. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $22,755.46, a PE ratio of 18.89, a PEG ratio of 1.62 and a beta of 1.10.

KeyCorp (NYSE:KEY) last released 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. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company earned $0.31 EPS. equities research analysts predict that KeyCorp will post 1.67 earnings per share for the current fiscal year.

In other news, General Counsel Paul N. Harris sold 2,758 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of KeyCorp by 25.7% in the 4th quarter. State of Alaska Department of Revenue now owns 168,222 shares of the financial services provider’s stock worth $3,391,000 after purchasing an additional 34,390 shares during the period. Fox Run Management L.L.C. lifted its position in shares of KeyCorp by 27.0% in the 4th quarter. Fox Run Management L.L.C. now owns 36,462 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 7,762 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of KeyCorp by 3.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,710,242 shares of the financial services provider’s stock worth $74,836,000 after purchasing an additional 134,355 shares during the period. National Pension Service lifted its position in shares of KeyCorp by 4.5% in the 4th quarter. National Pension Service now owns 1,113,145 shares of the financial services provider’s stock worth $22,452,000 after purchasing an additional 47,814 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of KeyCorp by 7.1% in the 4th quarter. Bank of Montreal Can now owns 3,074,125 shares of the financial services provider’s stock worth $62,004,000 after purchasing an additional 204,584 shares during the period. 81.01% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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