KeyCorp (NYSE:KEY) Downgraded to “Neutral” at Robert W. Baird

Robert W. Baird cut shares of KeyCorp (NYSE:KEY) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat.com reports. Robert W. Baird currently has $17.00 target price on the financial services provider’s stock, down from their prior target price of $18.00.

Several other analysts have also issued reports on KEY. Royal Bank of Canada restated an outperform rating and set a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. DA Davidson boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a buy rating in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research note on Thursday, June 27th. Citigroup upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and set a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of Moderate Buy and an average price target of $17.21.

KeyCorp Trading Up 1.0 %

Shares of NYSE KEY opened at $17.40 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $16.41 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.47. The firm has a 50-day moving average of $16.37 and a 200 day moving average of $15.30.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KEY. Freestone Capital Holdings LLC acquired a new stake in KeyCorp in the first quarter valued at $561,000. Assenagon Asset Management S.A. boosted its stake in shares of KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after acquiring an additional 610,688 shares during the last quarter. Commerce Bank boosted its stake in shares of KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after acquiring an additional 364,850 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of KeyCorp during the second quarter valued at $981,000. Finally, Cetera Investment Advisers boosted its stake in shares of KeyCorp by 274.4% during the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after acquiring an additional 243,437 shares during the last quarter. Institutional investors and hedge funds 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.