KeyCorp (NYSE:KEY – Get Rating) had its price objective lowered by Morgan Stanley from $23.00 to $22.00 in a report released on Wednesday morning, The Fly reports. Morgan Stanley currently has an equal weight rating on the financial services provider's stock.
A number of other analysts have also recently weighed in on KEY. Wedbush restated a neutral rating and set a $18.00 target price on shares of KeyCorp in a report on Wednesday, September 28th. Jefferies Financial Group reduced their target price on shares of KeyCorp from $23.00 to $18.00 and set a hold rating for the company in a report on Monday, July 11th. Wells Fargo & Company reduced their target price on shares of KeyCorp from $27.00 to $22.00 and set an overweight rating for the company in a report on Friday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $25.00 to $20.50 and set a neutral rating for the company in a research report on Friday, July 1st. Finally, TheStreet downgraded shares of KeyCorp from a b rating to a c+ rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $22.93.
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KeyCorp Trading Down 1.3 %
KeyCorp stock opened at $16.89 on Wednesday. The firm has a 50 day simple moving average of $17.93 and a 200-day simple moving average of $18.87. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $15.75 billion, a PE ratio of 7.41, a price-to-earnings-growth ratio of 0.41 and a beta of 1.28. KeyCorp has a 12-month low of $15.74 and a 12-month high of $27.17.
KeyCorp (NYSE:KEY – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.76 billion. KeyCorp had a net
margin of 28.53% and a return on equity of 15.01%. The business's revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. As a group, equities research analysts expect that KeyCorp will post 2.23 EPS for the current fiscal year.
Insiders Place Their Bets
In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total value of $91,468.00. Following the completion of the sale, the director now owns 64,139 shares in the company, valued at approximately $1,128,205.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company's stock.
Institutional Investors Weigh In On KeyCorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC raised its holdings in shares of KeyCorp by 677.7% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,431 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,247 shares in the last quarter. DeDora Capital Inc. bought a new position in shares of KeyCorp during the 1st quarter valued at $28,000. Evoke Wealth LLC raised its holdings in shares of KeyCorp by 131.8% during the 2nd quarter. Evoke Wealth LLC now owns 1,602 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 911 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of KeyCorp by 93.0% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,631 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 786 shares in the last quarter. Finally, CNB Bank raised its holdings in shares of KeyCorp by 3,380.8% during the 2nd quarter. CNB Bank now owns 1,810 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,758 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.
About KeyCorp
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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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