KeyCorp’s (KEY) “Buy” Rating Reiterated at Keefe, Bruyette & Woods – StockNewsTimes


KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research report issued on Thursday, October 19th. They currently have a $21.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 14.32% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 11th. Instinet reissued a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a report on Wednesday, July 12th. UBS AG upgraded KeyCorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and set a $21.00 price target on shares of KeyCorp in a research report on Friday, July 14th. Finally, DA Davidson upgraded KeyCorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $20.00 to $21.00 in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.53.

KeyCorp (NYSE:KEY) traded down 0.81% during mid-day trading on Thursday, hitting $18.37. 10,633,113 shares of the company were exchanged. The company has a 50 day moving average of $18.29 and a 200 day moving average of $18.18. The stock has a market cap of $19.98 billion, a P/E ratio of 18.24 and a beta of 1.13. KeyCorp has a 12-month low of $13.83 and a 12-month high of $19.53.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 EPS. On average, equities research analysts expect that KeyCorp will post $1.31 earnings per share for the current fiscal year.

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In related news, insider Amy G. Brady sold 18,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $18.42, for a total value of $331,560.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ruth Ann M. Gillis acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $17.91 per share, for a total transaction of $35,820.00. Following the purchase, the director now owns 10,551 shares of the company’s stock, valued at $188,968.41. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 277,636 shares of company stock worth $5,149,949. Company insiders own 0.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after acquiring an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its position in KeyCorp by 2.7% during the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after acquiring an additional 2,280,450 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of KeyCorp by 1.9% during the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after purchasing an additional 231,558 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of KeyCorp by 0.7% during the 2nd quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock valued at $224,897,000 after purchasing an additional 87,019 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of KeyCorp by 5.5% during the 1st quarter. Geode Capital Management LLC now owns 10,693,438 shares of the financial services provider’s stock valued at $189,862,000 after purchasing an additional 556,612 shares during the last quarter. 80.64% of the stock is currently owned by institutional investors and hedge funds.

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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