KeyCorp (KEY) Downgraded to “Hold” at ValuEngine
ValuEngine lowered shares of KeyCorp (NYSE:KEY) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut KeyCorp from a hold rating to a sell rating in a research note on Monday, October 30th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of KeyCorp in a research note on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $21.00 price target on shares of KeyCorp in a research note on Thursday, October 19th. Citigroup Inc. upped their price target on KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Monday, October 9th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $18.00 price target on shares of KeyCorp in a research note on Friday, October 6th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $20.82.
KeyCorp (NYSE KEY) opened at $18.16 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $19,658.31, a P/E ratio of 13.85, a P/E/G ratio of 1.66 and a beta of 1.10. KeyCorp has a twelve month low of $16.28 and a twelve month high of $19.53.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. research analysts expect that KeyCorp will post 1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.105 dividend. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. This represents a $0.42 dividend on an annualized basis and a yield of 2.31%. KeyCorp’s dividend payout ratio is currently 33.33%.
In other news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the transaction, the insider now owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. In the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC raised its stake in shares of KeyCorp by 0.5% in the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock worth $223,000 after buying an additional 66 shares during the period. Comerica Securities Inc. raised its stake in shares of KeyCorp by 0.7% in the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock worth $216,000 after buying an additional 83 shares during the period. Essex Financial Services Inc. raised its stake in shares of KeyCorp by 0.3% in the second quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock worth $734,000 after buying an additional 117 shares during the period. Dividend Assets Capital LLC raised its stake in shares of KeyCorp by 0.5% in the second quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock worth $459,000 after buying an additional 125 shares during the period. Finally, HM Payson & Co. raised its stake in shares of KeyCorp by 1.2% in the second quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock worth $244,000 after buying an additional 150 shares during the period. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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