BidaskClub lowered shares of KeyCorp (NYSE:KEY) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
A number of other equities research analysts have also recently issued reports on KEY. Keefe, Bruyette & Woods set a $20.00 target price on shares of KeyCorp and gave the company a hold rating in a report on Saturday, June 24th. Jefferies Group LLC reissued a buy rating and set a $21.00 target price on shares of KeyCorp in a report on Friday, July 14th. Zacks Investment Research cut shares of KeyCorp from a buy rating to a hold rating in a report on Wednesday, July 12th. Instinet reissued a buy rating and set a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an overweight rating and set a $22.00 price target (up from $21.00) on shares of KeyCorp in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $19.44.
KeyCorp (NYSE:KEY) traded down 4.04% during trading on Wednesday, hitting $18.30. The stock had a trading volume of 14,635,593 shares. The firm has a market capitalization of $20.06 billion, a PE ratio of 21.30 and a beta of 1.13. The firm has a 50 day moving average price of $18.55 and a 200-day moving average price of $18.28. KeyCorp has a 1-year low of $11.35 and a 1-year high of $19.53.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 14.69% and a return on equity of 9.30%. During the same quarter in the previous year, the firm posted $0.27 EPS. KeyCorp’s revenue was up 52.1% on a year-over-year basis. On average, equities research analysts expect that KeyCorp will post $1.34 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This article was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://stocknewstimes.com/2017/07/20/keycorp-nysekey-downgraded-to-hold-at-bidaskclub.html.
KeyCorp announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, August 25th. KeyCorp’s dividend payout ratio (DPR) is presently 44.71%.
Several large investors have recently bought and sold shares of KEY. Trust Co. of Toledo NA OH boosted its stake in KeyCorp by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 42,951 shares of the financial services provider’s stock worth $805,000 after buying an additional 178 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of KeyCorp by 2.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 14,206 shares of the financial services provider’s stock valued at $253,000 after buying an additional 300 shares in the last quarter. Huntington National Bank boosted its stake in shares of KeyCorp by 0.3% in the first quarter. Huntington National Bank now owns 120,563 shares of the financial services provider’s stock valued at $2,144,000 after buying an additional 323 shares in the last quarter. Denver Investment Advisors LLC boosted its stake in shares of KeyCorp by 0.4% in the first quarter. Denver Investment Advisors LLC now owns 93,603 shares of the financial services provider’s stock valued at $1,665,000 after buying an additional 357 shares in the last quarter. Finally, Bouchey Financial Group Ltd boosted its stake in shares of KeyCorp by 1.8% in the second quarter. Bouchey Financial Group Ltd now owns 24,265 shares of the financial services provider’s stock valued at $455,000 after buying an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.
About KeyCorp
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.
