Keefe, Bruyette & Woods Reiterates “Buy” Rating for KeyCorp (KEY)

KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They currently have a $21.50 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 8.81% from the company’s previous close.

KEY has been the subject of a number of other research reports. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup lifted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 price target on shares of KeyCorp in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.28.

KeyCorp (NYSE KEY) opened at $19.76 on Thursday. KeyCorp has a one year low of $16.28 and a one year high of $20.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market capitalization of $21,185.38, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.79 and a beta of 1.10.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. analysts predict that KeyCorp will post 1.37 earnings per share for the current year.

In other news, Director Carlton L. Highsmith sold 7,600 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the transaction, the director now owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the transaction, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last three months, insiders sold 57,212 shares of company stock valued at $1,060,508. Insiders own 0.65% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Zions Bancorporation raised its holdings in KeyCorp by 2,277.5% in the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp in the 3rd quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp in the 3rd quarter worth about $145,000. Sun Life Financial INC raised its holdings in KeyCorp by 80,370.0% in the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares during the period. Finally, AllSquare Wealth Management LLC acquired a new position in KeyCorp in the 3rd quarter worth about $173,000. 81.20% of the stock is owned by institutional investors and hedge funds.

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About KeyCorp

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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