KeyCorp (NYSE:KEY)‘s stock had its “hold” rating reiterated by equities research analysts at Robert W. Baird in a note issued to investors on Friday, October 6th. They currently have a $18.00 target price on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential downside of 2.33% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Instinet restated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research note on Wednesday, July 12th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research note on Friday, July 14th. UBS AG upgraded KeyCorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $19.00 to $22.00 in a research note on Monday, July 10th. Finally, BidaskClub raised KeyCorp from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.03.
KeyCorp (NYSE:KEY) opened at 18.43 on Friday. The stock has a market capitalization of $20.04 billion, a P/E ratio of 18.30 and a beta of 1.13. KeyCorp has a 12 month low of $12.33 and a 12 month high of $19.53. The firm’s 50-day moving average is $17.97 and its 200-day moving average is $18.12.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue was up 52.1% compared to the same quarter last year. On average, equities analysts expect that KeyCorp will post $1.35 earnings per share for the current fiscal year.
KeyCorp declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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In other news, insider Amy G. Brady sold 18,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.42, for a total value of $331,560.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig A. Buffie sold 31,385 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $18.01, for a total value of $565,243.85. The disclosure for this sale can be found here. In the last three months, insiders have acquired 16,000 shares of company stock worth $290,540 and have sold 259,409 shares worth $4,794,449. Insiders own 0.65% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC lifted its stake in shares of KeyCorp by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 66 shares during the last quarter. Comerica Securities Inc. lifted its stake in shares of KeyCorp by 0.7% in the 2nd quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 83 shares during the last quarter. Essex Financial Services Inc. lifted its stake in KeyCorp by 0.3% during the 2nd quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 117 shares in the last quarter. Dividend Assets Capital LLC lifted its stake in KeyCorp by 0.5% during the 2nd quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 125 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in KeyCorp by 1.2% during the 2nd quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 150 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
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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