November 29, 2016 - By Darrin Black
Keycorp (NYSE:KEY)‘s “Outperform” rating is no longer valid. equity research analysts at KBW decreased Keycorp (NYSE:KEY)‘s rating to a “Mkt Perform”.
Out of 25 analysts covering Keycorp (NYSE:KEY), 15 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 60% are positive. $18 is the highest target while $2 is the lowest. The $14.90 average target is -12.40% below today’s ($17.01) stock price. Keycorp has been the topic of 53 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, January 6 by Nomura. Citigroup downgraded KeyCorp (NYSE:KEY) on Tuesday, November 8 to “Neutral” rating. Bernstein downgraded KeyCorp (NYSE:KEY) on Wednesday, November 16 to “Mkt Perform” rating. The company was upgraded on Monday, July 11 by FBR Capital. Susquehanna upgraded the shares of KEY in a report on Thursday, November 5 to “Positive” rating. Sterne Agee CRT initiated it with “Buy” rating and $17 target price in Thursday, August 20 report. Morgan Stanley reinitiated it with “Equal-Weight” rating and $13.50 target price in Tuesday, April 12 report. The company was downgraded on Monday, November 9 by Deutsche Bank. The firm has “Mkt Perform” rating given on Friday, January 22 by FBR Capital. The firm earned “Outperform” rating on Monday, November 2 by Macquarie Research.
The stock increased 0.06% or $0.01 during the last trading session, hitting $17.01. About 10.08 million shares traded hands. KeyCorp (NYSE:KEY) has risen 35.24% since April 26, 2016 and is uptrending. It has outperformed by 29.98% the S&P500.
Analysts await KeyCorp (NYSE:KEY) to report earnings on January, 19. They expect $0.29 EPS, up 3.57% or $0.01 from last year’s $0.28 per share. KEY’s profit will be $307.39 million for 14.66 P/E if the $0.29 EPS becomes a reality. After $0.30 actual EPS reported by KeyCorp for the previous quarter, Wall Street now forecasts -3.33% negative EPS growth.
Insitutional Activity: The institutional sentiment increased to 2.05 in Q2 2016. Its up 0.96, from 1.09 in 2016Q1. The ratio improved, as 39 funds sold all KeyCorp shares owned while 186 reduced positions. 56 funds bought stakes while 189 increased positions. They now own 702.32 million shares or 2.46% more from 685.48 million shares in 2016Q1.
Bb&T Securities Ltd Liability Corporation reported 430,569 shares or 0.07% of all its holdings. Davis R M Inc accumulated 0.01% or 11,414 shares. First Citizens Bank & Trust accumulated 0.66% or 669,221 shares. Employees Retirement Systems Of Texas has invested 0.01% of its portfolio in KeyCorp (NYSE:KEY). Visium Asset Management Limited Partnership holds 57,778 shares or 0.04% of its portfolio. Pax Management Ltd Com owns 136,484 shares or 0.09% of their US portfolio. Advance Capital I Inc has 0.3% invested in the company for 25,300 shares. Hl Fin Svcs Ltd Com has invested 0% of its portfolio in KeyCorp (NYSE:KEY). Wade G W & Inc holds 0.06% of its portfolio in KeyCorp (NYSE:KEY) for 30,142 shares. State Teachers Retirement Sys last reported 1.63 million shares in the company. Timber Hill Ltd Llc has 89,985 shares for 0% of their US portfolio. Blackrock Advsrs Limited holds 3.61 million shares or 0.04% of its portfolio. Wells Fargo & Com Mn holds 0.01% or 1.98 million shares in its portfolio. Parkside Retail Bank Trust owns 366 shares or 0% of their US portfolio. Meiji Yasuda Asset Mgmt Limited owns 27,433 shares or 0.04% of their US portfolio.
Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 1 insider sale for $147,907 net activity. Brady Amy G. sold $147,907 worth of stock or 9,457 shares.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association , which is engaged in providing banking services. The company has a market cap of $18.03 billion. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking services and products to individual, corporate and institutional clients. It has a 19.29 P/E ratio. The Company’s divisions include Key Community Bank and Key Corporate Bank.
According to Zacks Investment Research, “KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management, retail and commercial banking, consumer finance and investment banking products and services to corporate, individual and institutional clients through four lines of business: Key Retail Banking, Key Specialty Finance, Key Corporate Capital and Key Capital Partners.”
KeyCorp, incorporated on December 31, 1958, is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking services and products to individual, corporate and institutional clients. The Company’s divisions include Key Community Bank and Key Corporate Bank. The Company’s Other Segments consist of corporate treasury, principal investing unit and various exit portfolios.
More news for KeyCorp (NYSE:KEY) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Great Plains Energy, TFS Financial and KeyCorp” on November 23, 2016. Prnewswire.com‘s article titled: “KeyCorp Declares Quarterly Cash Dividend On Common Shares And Preferred Stocks” and published on November 17, 2016 is yet another important article.
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By Darrin Black