KeyCorp (NYSE:KEY) PT Lowered to $39.00

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KeyCorp (NYSE:KEY) had its price objective cut by equities researchers at TD Securities from $42.00 to $39.00 in a report issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would suggest a potential upside of 101.45% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of KeyCorp from $21.00 to $20.50 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Piper Jaffray Companies set a $19.00 price objective on shares of KeyCorp and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group boosted their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank cut shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.89.

Shares of KEY stock traded up $0.06 during mid-day trading on Thursday, reaching $19.36. The stock had a trading volume of 6,369,510 shares, compared to its average volume of 10,636,943. The stock’s 50-day moving average price is $17.90 and its two-hundred day moving average price is $17.31. KeyCorp has a 52-week low of $13.65 and a 52-week high of $19.48. The firm has a market capitalization of $18.90 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.

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

In related news, CEO Beth E. Mooney sold 437,737 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $18.28, for a total transaction of $8,001,832.36. Following the transaction, the chief executive officer now owns 1,662,612 shares in the company, valued at $30,392,547.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amy G. Brady sold 10,806 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total transaction of $194,724.12. The disclosure for this sale can be found here. Insiders have sold 657,271 shares of company stock worth $12,049,355 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in KeyCorp in the third quarter worth about $35,000. Cordasco Financial Network purchased a new stake in KeyCorp in the third quarter worth about $43,000. Manchester Financial Inc. purchased a new stake in KeyCorp in the second quarter worth about $46,000. Coastal Capital Group Inc. purchased a new stake in KeyCorp in the second quarter worth about $50,000. Finally, CSat Investment Advisory L.P. grew its holdings in KeyCorp by 202.9% in the second quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 2,068 shares during the period. Institutional investors own 80.01% of the company’s stock.

KeyCorp Company Profile

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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