Vining Sparks Reiterates Buy Rating for KeyCorp (KEY)

KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reiterated by equities research analysts at Vining Sparks in a research note issued to investors on Thursday. They presently have a $25.00 price objective on the financial services provider’s stock. Vining Sparks’ price objective indicates a potential upside of 18.15% from the stock’s current price.

The analysts wrote, “We continue to expect KEY to grow its operating earnings per share by 32% in 2018E, which still remains approximately 8% above the market’s consensus expectations. Therefore, we have maintained our price target at $25 and reaffirmed our rating at “Strong Buy” with a potential 20% total return expected over the next 12 months.””

Several other equities analysts also recently commented on the stock. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Thursday, December 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.50 price target on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Barclays boosted their price target on shares of KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. 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 company has a consensus rating of “Buy” and an average price target of $21.98.

Shares of KeyCorp (NYSE:KEY) traded up $0.34 during trading hours on Thursday, hitting $21.16. 13,295,012 shares of the stock traded hands, compared to its average volume of 8,950,000. The company has a market capitalization of $22,760.00, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.71.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the prior year, the firm posted $0.31 earnings per share. equities research analysts expect that KeyCorp will post 1.64 earnings per share for the current fiscal year.

In other KeyCorp news, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at $455,549.47. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated 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 owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,212 shares of company stock worth $1,060,508. Corporate insiders own 0.65% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Boston Partners purchased a new stake in KeyCorp in the third quarter worth about $356,111,000. Janus Henderson Group PLC grew its holdings in KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after purchasing an additional 8,962,913 shares during the period. Vanguard Group Inc. grew its holdings in KeyCorp by 3.9% in the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares during the period. Samlyn Capital LLC purchased a new stake in KeyCorp in the second quarter worth about $57,111,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in KeyCorp by 36.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 7,486,279 shares of the financial services provider’s stock worth $140,892,000 after purchasing an additional 1,985,847 shares during the period. Institutional investors and hedge funds own 81.01% of the company’s stock.

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About KeyCorp

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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