KeyCorp (NYSE:KEY) Cut to “Strong Sell” at Baird R W

KeyCorp (NYSE:KEY) was downgraded by analysts at Baird R W from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently weighed in on KEY. DA Davidson boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price target on KeyCorp from $19.50 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on KeyCorp from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens raised their price objective on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, TD Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, KeyCorp has an average rating of “Hold” and a consensus target price of $22.28.

KeyCorp Stock Up 0.8%

Shares of KEY opened at $21.55 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.74. The business’s 50 day simple moving average is $19.19 and its 200-day simple moving average is $18.59.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. KeyCorp’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share. As a group, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after purchasing an additional 17,245,128 shares during the period. Geode Capital Management LLC boosted its position in KeyCorp by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock valued at $428,084,000 after buying an additional 359,573 shares during the period. Invesco Ltd. grew its stake in KeyCorp by 2.4% in the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock worth $367,783,000 after acquiring an additional 488,730 shares in the last quarter. Capital World Investors increased its position in shares of KeyCorp by 169.2% during the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after acquiring an additional 13,067,326 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of KeyCorp by 2.6% during the third quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock valued at $295,295,000 after acquiring an additional 397,523 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp News Summary

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Goldman Sachs raised its price target to $25 and kept a “buy” rating, signaling further upside from institutional research. Goldman Sachs raises PT to $25
• Positive Sentiment: Evercore ISI bumped its target to $25 and kept an “outperform” rating, another high‑profile upgrade adding buying interest. Evercore raises PT to $25
• Positive Sentiment: Barclays raised its price target to $24 (from $20), and Wells Fargo also boosted its target to $24 while maintaining an overweight/overweight stance—support from multiple sell‑side desks is lifting sentiment. Barclays raises PT to $24 Wells Fargo raises PT to $24
• Positive Sentiment: Multiple upgrades and target raises have coincided with the stock reaching a new 12‑month/52‑week high, which can attract momentum and index/ETF flows. KeyCorp hits 52‑week high
• Neutral Sentiment: JPMorgan raised its target to $22 but kept a “neutral” rating, which is incrementally supportive yet less bullish than other shops. JPMorgan raises PT to $22
• Negative Sentiment: Robert W. Baird downgraded KeyCorp to “underperform” with an $18 price target, representing a meaningful downside alternative view that may cap gains or trigger selling by funds sensitive to sell‑side guidance. Baird downgrades to underperform

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.