KeyCorp (NYSE:KEY) Upgraded to Hold at StockNews.com

KeyCorp (NYSE:KEY) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

KEY has been the topic of several other research reports. DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods cut their target price on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday. Barclays lowered their price objective on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating on shares of KeyCorp in a report on Thursday. Finally, Truist Financial reduced their target price on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.26.

KeyCorp Stock Performance

Shares of NYSE KEY traded down $0.46 during midday trading on Monday, hitting $13.81. The company’s stock had a trading volume of 13,121,727 shares, compared to its average volume of 12,980,219. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of -46.03, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $15.68 and a 200 day moving average price of $17.12.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has approved a stock repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. grew its stake in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 800 shares during the period. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new position in KeyCorp during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new position in KeyCorp in the fourth quarter worth about $34,000. Finally, TCTC Holdings LLC increased its position in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

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.