BMO Capital Markets Cuts KeyCorp (KEY) Price Target to $24.00

KeyCorp (NYSE:KEY) had its price objective trimmed by BMO Capital Markets from $25.00 to $24.00 in a report released on Friday morning. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of KeyCorp from a hold rating to a buy rating and set a $23.00 price target for the company in a research report on Tuesday, December 26th. Barclays upped their price target on shares of KeyCorp from $19.00 to $23.00 and gave the stock an underweight rating in a research report on Tuesday, January 2nd. DA Davidson upped their price target on shares of KeyCorp to $26.00 and gave the stock a buy rating in a research report on Friday, January 19th. Vining Sparks reaffirmed a buy rating and set a $25.00 price target on shares of KeyCorp in a research report on Thursday, January 18th. Finally, Deutsche Bank raised shares of KeyCorp from a hold rating to a buy rating and upped their price target for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $22.21.

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KEY stock opened at $19.86 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. The firm has a market cap of $21,065.24, a PE ratio of 14.60, a PEG ratio of 1.25 and a beta of 1.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. analysts forecast that KeyCorp will post 1.69 earnings per share for the current fiscal year.

In other news, insider Robert A. Deangelis sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the sale, the insider now owns 175,053 shares in the company, valued at approximately $3,695,368.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Several institutional investors have recently modified their holdings of KEY. We Are One Seven LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $183,000. Davis R M Inc. acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $217,000. Jump Trading LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $219,000. CIBC World Markets Inc. acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $224,000. Finally, Valeo Financial Advisors LLC raised its stake in shares of KeyCorp by 136.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 11,108 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 6,419 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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