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

Baird R W downgraded shares of KeyCorp (NYSE:KEY) from a strong-buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

Several other research firms have also commented on KEY. Evercore ISI increased their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Wedbush lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Citigroup increased their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $17.70 on Monday. 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 stock’s fifty day moving average price is $16.50 and its 200-day moving average price is $15.33. The firm has a market cap of $16.69 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.97 and a beta of 1.25. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.94.

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. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts expect that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other 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 directly owns 46,864 shares in the company, valued at $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in shares of KeyCorp during the first quarter worth $25,000. Wolff Wiese Magana LLC grew its stake in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares in the last quarter. Crewe Advisors LLC acquired a new stake in KeyCorp in the 1st quarter valued at about $32,000. Quarry LP purchased a new position in KeyCorp in the 4th quarter worth approximately $38,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.