KeyCorp (KEY) Stock Rating Lowered by Keefe, Bruyette & Woods
KeyCorp (NYSE:KEY) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday. They currently have a $18.00 price target on the financial services provider’s stock, up from their previous price target of $15.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 3.99% from the company’s previous close.
A number of other equities analysts also recently weighed in on KEY. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, October 28th. Rafferty Capital Markets raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 25th. Jefferies Group reissued a “buy” rating and set a $16.00 price target on shares of KeyCorp in a research note on Wednesday, October 26th. Citigroup Inc. downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 8th. Finally, Standpoint Research downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. KeyCorp presently has a consensus rating of “Buy” and an average price target of $15.21.
Shares of KeyCorp (NYSE:KEY) opened at 17.31 on Tuesday. The firm has a 50-day moving average of $14.93 and a 200-day moving average of $12.77. The stock has a market cap of $18.71 billion, a P/E ratio of 19.94 and a beta of 1.00. KeyCorp has a 52-week low of $9.88 and a 52-week high of $17.59.
KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. KeyCorp had a net margin of 15.72% and a return on equity of 8.44%. The company earned $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. On average, equities analysts expect that KeyCorp will post $1.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, November 25th. KeyCorp’s dividend payout ratio (DPR) is currently 39.08%.
A number of hedge funds have recently bought and sold shares of the company. MCF Advisors LLC raised its stake in KeyCorp by 0.7% in the third quarter. MCF Advisors LLC now owns 8,598 shares of the financial services provider’s stock valued at $105,000 after buying an additional 59 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in KeyCorp during the third quarter valued at about $109,000. MSI Financial Services Inc raised its stake 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 valued at $109,000 after buying an additional 860 shares during the period. Cutler Capital Management LLC purchased a new stake in KeyCorp during the third quarter valued at about $121,000. Finally, Checchi Capital Advisers LLC raised its stake in KeyCorp by 55.6% in the third quarter. Checchi Capital Advisers LLC now owns 10,231 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,657 shares during the period. 78.55% of the stock is currently owned by hedge funds and other institutional investors.
KeyCorp Company Profile
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.
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