KeyCorp (KEY) Lifted to Strong-Buy at Vetr Inc.
Vetr upgraded shares of KeyCorp (NYSE:KEY) from a buy rating to a strong-buy rating in a research note published on Thursday. Vetr currently has $14.14 price objective on the financial services provider’s stock.
A number of other brokerages have also commented on KEY. Zacks Investment Research raised shares of KeyCorp from a strong sell rating to a hold rating in a report on Monday, August 1st. Credit Suisse Group AG reissued a buy rating on shares of KeyCorp in a report on Monday, July 11th. Wells Fargo & Co. reissued a hold rating on shares of KeyCorp in a report on Saturday, July 9th. Piper Jaffray Cos. lowered shares of KeyCorp from an overweight rating to a neutral rating and decreased their price target for the stock from $14.50 to $13.00 in a report on Monday, August 29th. Finally, Nomura reissued a buy rating and issued a $12.00 price target on shares of KeyCorp in a report on Sunday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $14.38.
KeyCorp (NYSE:KEY) opened at 12.35 on Thursday. The company has a 50-day moving average of $12.39 and a 200-day moving average of $11.99. KeyCorp has a 52 week low of $9.88 and a 52 week high of $14.01. The company has a market capitalization of $13.36 billion, a PE ratio of 12.77 and a beta of 1.21.
KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. KeyCorp had a net margin of 17.81% and a return on equity of 8.46%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that KeyCorp will post $1.06 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of KEY. MSI Financial Services Inc boosted its position in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock worth $109,000 after buying an additional 860 shares during the last quarter. Wealthfront Inc. bought a new position in KeyCorp during the second quarter worth approximately $123,000. Sigma Investment Management Co boosted its position in KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,135 shares during the last quarter. Regentatlantic Capital LLC bought a new position in KeyCorp during the second quarter worth approximately $134,000. Finally, Mizuho Asset Management Co. Ltd. boosted its position in KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock worth $136,000 after buying an additional 5,639 shares during the last quarter. Institutional investors and hedge funds own 66.37% of the company’s stock.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
To view Vetr’s full report, visit Vetr’s official website.
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