KeyCorp (NYSE:KEY) Lowered to “Hold” at Baird R W

Baird R W downgraded shares of KeyCorp (NYSE:KEY) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

A number of other research firms have also commented on KEY. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. UBS Group cut shares of KeyCorp from a buy rating to a neutral rating and decreased their price target for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Robert W. Baird lowered shares of KeyCorp from an outperform rating to a neutral rating and cut their price objective for the company from $18.00 to $17.00 in a research report on Monday. Wedbush raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $17.21.

KeyCorp Price Performance

KeyCorp stock opened at $17.40 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $16.37 and its 200 day simple moving average is $15.30. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.47. The firm has a market capitalization of $16.41 billion, a PE ratio of 22.03, a P/E/G ratio of 0.94 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company posted $0.27 EPS. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently modified their holdings of the stock. Creative Planning raised its stake in KeyCorp by 2.9% during the third quarter. Creative Planning now owns 142,257 shares of the financial services provider’s stock valued at $2,383,000 after buying an additional 3,964 shares in the last quarter. Harrington Investments INC raised its position in shares of KeyCorp by 13.5% during the 3rd quarter. Harrington Investments INC now owns 46,204 shares of the financial services provider’s stock valued at $774,000 after acquiring an additional 5,500 shares in the last quarter. ORG Wealth Partners LLC bought a new position in KeyCorp during the third quarter worth $120,000. Exchange Traded Concepts LLC boosted its holdings in KeyCorp by 4.8% in the third quarter. Exchange Traded Concepts LLC now owns 199,297 shares of the financial services provider’s stock worth $3,338,000 after purchasing an additional 9,140 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in KeyCorp by 628.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,113 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.