KeyCorp (NYSE:KEY) Downgraded by ValuEngine

ValuEngine cut shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a research note released on Wednesday morning, ValuEngine reports.

Several other research analysts also recently weighed in on KEY. Piper Jaffray Companies set a $19.00 price target on shares of KeyCorp and gave the stock a buy rating in a research report on Wednesday, September 4th. Robert W. Baird upgraded shares of KeyCorp from a neutral rating to an outperform rating and increased their price target for the stock from $18.00 to $19.00 in a research report on Friday, June 21st. Zacks Investment Research downgraded shares of KeyCorp from a hold rating to a sell rating and set a $20.00 price target on the stock. in a research report on Monday, July 8th. UBS Group increased their price target on shares of KeyCorp from $21.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Finally, Nomura set a $18.00 price target on shares of KeyCorp and gave the stock a hold rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $23.74.

KEY traded up $0.26 during trading on Wednesday, hitting $17.77. The company’s stock had a trading volume of 10,968,625 shares, compared to its average volume of 9,494,874. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. KeyCorp has a one year low of $13.65 and a one year high of $18.96. The firm has a market cap of $17.57 billion, a PE ratio of 10.27, a P/E/G ratio of 3.58 and a beta of 1.29. The business’s 50 day simple moving average is $17.45 and its 200-day simple moving average is $17.13.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that KeyCorp will post 1.78 EPS for the current fiscal year.

In other news, insider Andrew J. Paine III sold 99,999 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total value of $1,825,981.74. Following the completion of the sale, the insider now directly owns 85,469 shares of the company’s stock, valued at $1,560,663.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Amy G. Brady sold 10,806 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.02, for a total transaction of $194,724.12. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KEY. Nomura Holdings Inc. purchased a new position in KeyCorp during the second quarter valued at $90,666,000. Nuveen Asset Management LLC grew its stake in KeyCorp by 314.4% during the second quarter. Nuveen Asset Management LLC now owns 6,579,555 shares of the financial services provider’s stock valued at $116,787,000 after acquiring an additional 4,991,821 shares in the last quarter. FMR LLC grew its stake in KeyCorp by 21.1% during the first quarter. FMR LLC now owns 18,418,818 shares of the financial services provider’s stock valued at $290,096,000 after acquiring an additional 3,204,467 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in KeyCorp during the second quarter valued at $52,674,000. Finally, Hexavest Inc. purchased a new position in KeyCorp during the second quarter valued at $39,330,000. 80.08% of the stock is owned by institutional investors.

KeyCorp Company Profile

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.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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