Baird R W Downgrades KeyCorp (NYSE:KEY) to Hold

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

Several other research analysts have also weighed in on the company. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $17.00 in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $17.21.

KeyCorp Trading Up 0.6 %

Shares of NYSE KEY opened at $17.51 on Monday. The business has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $15.31. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $16.51 billion, a PE ratio of 22.16, a PEG ratio of 0.94 and a beta of 1.25. KeyCorp has a one year low of $9.50 and a one year high of $17.94.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, analysts predict that KeyCorp will post 1.08 earnings per share 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 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 completion of the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEY. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp in the 1st quarter worth $25,000. Crewe Advisors LLC acquired a new position in KeyCorp during the first quarter valued at approximately $32,000. Quarry LP bought a new stake in KeyCorp in the fourth quarter valued at approximately $38,000. Fidelis Capital Partners LLC acquired a new stake in KeyCorp in the first quarter worth $39,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of KeyCorp by 189.6% during the third quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,513 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

About KeyCorp

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.