KeyCorp (NYSE:KEY) Downgraded by Baird R W to “Hold”

KeyCorp (NYSE:KEY) was downgraded by equities research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

KEY has been the subject of a number of other reports. Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their target price for the company from $18.00 to $17.00 in a report on Monday. Jefferies Financial Group boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

KeyCorp Trading Up 1.0 %

NYSE KEY opened at $17.40 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $16.41 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. The company’s 50-day simple moving average is $16.37 and its two-hundred day simple moving average is $15.30. KeyCorp has a one year low of $9.50 and a one year high of $17.47.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Equities analysts forecast that KeyCorp will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Large investors have recently made changes to their positions in the company. Creative Planning boosted its holdings in KeyCorp by 2.9% in the third quarter. Creative Planning now owns 142,257 shares of the financial services provider’s stock valued at $2,383,000 after purchasing an additional 3,964 shares in the last quarter. Harrington Investments INC boosted its holdings in KeyCorp by 13.5% in the third quarter. Harrington Investments INC now owns 46,204 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 5,500 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in KeyCorp in the third quarter valued at approximately $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 valued at $3,338,000 after purchasing an additional 9,140 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in KeyCorp by 628.9% in 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 in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.