KeyCorp (NYSE:KEY) Price Target Cut to $39.00 by Analysts at TD Securities

KeyCorp (NYSE:KEY) had its price target decreased by TD Securities from $42.00 to $39.00 in a report released on Thursday, Stock Target Advisor reports. TD Securities currently has a buy rating on the financial services provider’s stock.

KEY has been the topic of several other reports. UBS Group raised their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Wedbush lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a neutral rating in a report on Friday, October 18th. BMO Capital Markets lowered their target price on shares of KeyCorp from $36.00 to $34.00 and set a market perform rating on the stock in a report on Wednesday. Piper Jaffray Companies set a $19.00 target price on shares of KeyCorp and gave the company a buy rating in a report on Wednesday, September 4th. Finally, Deutsche Bank downgraded shares of KeyCorp from a buy rating to a hold rating and set a $19.00 target price on the stock. in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $24.89.

KeyCorp stock traded up $0.06 during midday trading on Thursday, hitting $19.36. 6,369,510 shares of the company’s stock were exchanged, compared to its average volume of 10,636,943. KeyCorp has a 12-month low of $13.65 and a 12-month high of $19.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The firm’s 50 day simple moving average is $17.90 and its 200 day simple moving average is $17.31.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $0.45 EPS. KeyCorp’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that KeyCorp will post 1.8 EPS for the current fiscal year.

In related news, insider Amy G. Brady sold 10,806 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,515 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $18.07, for a total transaction of $171,936.05. Following the completion of the sale, the director now owns 70,640 shares of the company’s stock, valued at approximately $1,276,464.80. The disclosure for this sale can be found here. Insiders sold 657,271 shares of company stock valued at $12,049,355 in the last quarter. Company insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 0.4% during the second quarter. Vanguard Group Inc. now owns 112,955,500 shares of the financial services provider’s stock worth $2,004,961,000 after buying an additional 415,547 shares in the last quarter. Invesco Ltd. lifted its position in shares of KeyCorp by 2.3% during the second quarter. Invesco Ltd. now owns 17,028,799 shares of the financial services provider’s stock worth $302,262,000 after purchasing an additional 381,757 shares in the last quarter. Bank of America Corp DE lifted its position in shares of KeyCorp by 1.0% during the second quarter. Bank of America Corp DE now owns 14,076,297 shares of the financial services provider’s stock worth $249,854,000 after purchasing an additional 142,938 shares in the last quarter. Northern Trust Corp lifted its position in shares of KeyCorp by 1.1% during the second quarter. Northern Trust Corp now owns 11,798,679 shares of the financial services provider’s stock worth $209,426,000 after purchasing an additional 133,547 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,685,052 shares of the financial services provider’s stock worth $136,410,000 after purchasing an additional 241,553 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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