Wall Street Zen Upgrades KeyCorp (NYSE:KEY) to Hold

KeyCorp (NYSE:KEY) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also commented on KEY. Evercore reiterated an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a research report on Thursday. TD Cowen restated a “buy” rating and set a $68.00 target price on shares of KeyCorp in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of KeyCorp in a report on Friday, August 7th. UBS Group lifted their price target on KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada lifted their price target on KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.94.

KeyCorp Stock Up 0.0%

Shares of KEY opened at $20.09 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07. The business’s 50 day simple moving average is $21.81 and its 200-day simple moving average is $21.79.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $0.35 earnings per share. KeyCorp’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new position in KeyCorp during the 2nd quarter valued at about $30,000. Silvant Capital Management LLC bought a new stake in KeyCorp in the second quarter worth about $30,000. Keating Financial Advisory Services Inc. bought a new stake in KeyCorp in the second quarter worth about $31,000. MCF Advisors LLC boosted its position in shares of KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after buying an additional 456 shares during the period. Finally, Western Wealth Management LLC purchased a new position in shares of KeyCorp during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.