KeyCorp (NYSE:KEY) had its price target cut by TD Securities from $42.00 to $39.00 in a report released on Thursday, Stock Target Advisor reports. They currently have a buy rating on the financial services provider’s stock.
Other research analysts have also recently issued research reports about the company. ValuEngine cut KeyCorp from a hold rating to a sell rating in a research note on Wednesday, October 16th. Deutsche Bank cut KeyCorp from a buy rating to a hold rating and set a $19.00 price target on the stock. in a research note on Friday, October 25th. Wedbush boosted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, October 18th. Piper Jaffray Companies set a $19.00 price target on KeyCorp and gave the stock a buy rating in a research note on Wednesday, September 4th. Finally, Credit Suisse Group upgraded KeyCorp from an average rating to a buy rating and set a $40.00 price target on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. KeyCorp has a consensus rating of Hold and a consensus price target of $24.89.
Shares of KEY traded up $0.06 during midday trading on Thursday, reaching $19.36. 6,369,510 shares of the company were exchanged, compared to its average volume of 10,636,943. The stock has a 50-day moving average price of $17.90 and a 200-day moving average price of $17.31. The company has a market cap of $18.90 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.62 and a beta of 1.29. KeyCorp has a 1-year low of $13.65 and a 1-year high of $19.48. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. KeyCorp had a return on equity of 12.71% and a net margin of 21.93%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.8 earnings per share for the current year.
In related news, Director Carlton L. Highsmith sold 9,515 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $18.07, for a total value of $171,936.05. Following the completion of the sale, the director now directly owns 70,640 shares of the company’s stock, valued at $1,276,464.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Beth E. Mooney sold 437,737 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $18.28, for a total value of $8,001,832.36. Following the completion of the sale, the chief executive officer now directly owns 1,662,612 shares of the company’s stock, valued at $30,392,547.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 657,271 shares of company stock valued at $12,049,355. 0.08% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC bought a new position in shares of KeyCorp during the third quarter valued at approximately $35,000. Cordasco Financial Network bought a new position in shares of KeyCorp during the third quarter valued at approximately $43,000. Manchester Financial Inc. bought a new position in shares of KeyCorp during the second quarter valued at approximately $46,000. Coastal Capital Group Inc. bought a new position in shares of KeyCorp during the second quarter valued at approximately $50,000. Finally, CSat Investment Advisory L.P. grew its holdings in shares of KeyCorp by 202.9% during the second quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 2,068 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.
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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