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

KeyCorp (NYSE:KEY) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. They currently have a $17.00 target price on the financial services provider’s stock, down from their prior target price of $18.00. Robert W. Baird’s price target indicates a potential downside of 1.28% from the company’s previous close.

Several other analysts have also commented on the company. Evercore ISI raised their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Wedbush lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $17.21.

KeyCorp Stock Up 2.3 %

KeyCorp stock opened at $17.22 on Monday. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.47. The business’s 50-day moving average price is $16.30 and its 200 day moving average price is $15.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping 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 return on equity of 8.64% and a net margin of 7.35%. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, sell-side analysts anticipate that KeyCorp will post 1.08 earnings per share for the current year.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was 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 $759,665.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KEY. Valeo Financial Advisors LLC boosted its position in shares of KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 704 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its position in shares of KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 742 shares in the last quarter. Czech National Bank boosted its position in shares of KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after acquiring an additional 788 shares in the last quarter. Finally, CWM LLC boosted its position in shares of KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after acquiring an additional 837 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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.