KeyCorp (NYSE:KEY) Downgraded to “Hold” at Baird R W

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

A number of other brokerages also recently issued reports on KEY. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Monday. DA Davidson lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Evercore ISI upped their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research note on Tuesday, August 13th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.21.

KeyCorp Price Performance

Shares of KEY stock opened at $17.70 on Monday. The firm’s 50-day moving average is $16.50 and its two-hundred day moving average is $15.33. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.94. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $16.69 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings data 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. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. Analysts predict that KeyCorp will post 1.08 earnings per share for the current year.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its position in KeyCorp by 582.3% in the third quarter. Trust Co. of Vermont now owns 2,729 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 2,329 shares during the last quarter. Rheos Capital Works Inc. increased its position in shares of KeyCorp by 20.0% during the third quarter. Rheos Capital Works Inc. now owns 600,000 shares of the financial services provider’s stock worth $10,050,000 after purchasing an additional 100,000 shares in the last quarter. B.O.S.S. Retirement Advisors LLC lifted its holdings in shares of KeyCorp by 3.5% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 117,013 shares of the financial services provider’s stock valued at $1,960,000 after purchasing an additional 3,960 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after buying an additional 679 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.