KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reaffirmed by investment analysts at Raymond James in a research report issued to clients and investors on Thursday.
A number of other equities analysts also recently commented on the stock. Wedbush set a $23.00 price objective on shares of KeyCorp and gave the stock a “buy” rating in a report on Thursday, September 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Standpoint Research raised shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Vining Sparks reaffirmed a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a report on Thursday, July 19th. Finally, Zacks Investment Research downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $24.05.
Shares of NYSE:KEY opened at $18.89 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $19.35 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.69 and a beta of 1.00. KeyCorp has a 12-month low of $16.48 and a 12-month high of $22.40.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. Equities research analysts predict that KeyCorp will post 1.73 earnings per share for the current year.
In other news, insider Douglas M. Schosser sold 6,048 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total transaction of $129,971.52. Following the completion of the transaction, the insider now owns 23,164 shares of the company’s stock, valued at $497,794.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Beth E. Mooney purchased 10,000 shares of KeyCorp stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in KEY. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in KeyCorp by 18.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,477,739 shares of the financial services provider’s stock worth $29,392,000 after purchasing an additional 230,391 shares during the period. FMR LLC lifted its holdings in KeyCorp by 33.5% in the third quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock worth $332,143,000 after purchasing an additional 4,186,177 shares during the period. American International Group Inc. lifted its holdings in KeyCorp by 5.0% in the third quarter. American International Group Inc. now owns 445,318 shares of the financial services provider’s stock worth $8,857,000 after purchasing an additional 21,199 shares during the period. Martingale Asset Management L P acquired a new stake in KeyCorp in the third quarter worth about $3,270,000. Finally, Novare Capital Management LLC lifted its holdings in KeyCorp by 1.8% in the third quarter. Novare Capital Management LLC now owns 366,049 shares of the financial services provider’s stock worth $7,281,000 after purchasing an additional 6,320 shares during the period. 80.19% 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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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