Rating Worth Mentioning: KeyCorp (NYSE:KEY) Is a Stock Keefe Bruyette Is Wary of; Firm Downgrades It

November 29, 2016 - By Peter Erickson

Rating Worth Mentioning: KeyCorp (NYSE:KEY) Is a Stock Keefe Bruyette Is Wary of; Firm Downgrades It

KeyCorp (NYSE:KEY) Downgrade

In a a research report issued today, Keefe Bruyette lowered shares of KeyCorp (NYSE:KEY) to a “Mkt Perform” rating from a “Outperform” rating.

KeyCorp (NYSE:KEY) Ratings Coverage

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 -13.32% below today’s ($17.19) stock price. Keycorp has been the topic of 53 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Standpoint Research initiated the stock with “Buy” rating in Friday, October 30 report. The company was upgraded on Friday, January 22 by Stephens. The stock of KeyCorp (NYSE:KEY) has “Equal-Weight” rating given on Tuesday, April 12 by Morgan Stanley. Wedbush initiated it with “Outperform” rating and $15 target price in Friday, October 7 report. On Wednesday, August 12 the stock rating was upgraded by KBW to “Market Perform”. As per Monday, November 21, the company rating was downgraded by Standpoint Research. The stock of KeyCorp (NYSE:KEY) earned “Mkt Perform” rating by Bruyette & Woods” on Wednesday, August 12. The stock has “Buy” rating given by Jefferies on Monday, November 23. The stock of KeyCorp (NYSE:KEY) earned “Buy” rating by Nomura on Wednesday, January 6. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr.

About 2.93M 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 $307.38 million for 14.82 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.

Tcw Grp holds 0.03% or 357,497 shares in its portfolio. Winton Capital Gp Limited has 1.57 million shares for 0.29% of their US portfolio. Gareth Morgan Investments Lp last reported 141,822 shares in the company. Iowa Natl Bank accumulated 0% or 170 shares. Moreover, Victory Capital has 0% invested in KeyCorp (NYSE:KEY) for 53,672 shares. Employees Retirement System Of Texas, a Texas-based fund reported 52,000 shares. The Texas-based Utd Automobile Association has invested 0.2% in KeyCorp (NYSE:KEY). The New York-based Highbridge Capital Management Lc has invested 0% in KeyCorp (NYSE:KEY). Pinnacle has invested 0% of its portfolio in KeyCorp (NYSE:KEY). Afam Capital holds 0.23% of its portfolio in KeyCorp (NYSE:KEY) for 126,053 shares. Moreover, Northern Corporation has 0.04% invested in KeyCorp (NYSE:KEY) for 10.98 million shares. J Goldman And Communications Limited Partnership holds 0.06% of its portfolio in KeyCorp (NYSE:KEY) for 110,200 shares. Apg Asset Management Nv accumulated 552,999 shares or 0.01% of the stock. Moreover, Ubs Oconnor has 0% invested in KeyCorp (NYSE:KEY) for 443,298 shares. Farr Miller And Washington Limited Liability Dc holds 0.02% or 15,599 shares in its portfolio.

Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 1 insider sale for $147,907 net activity. 9,457 shares were sold by Brady Amy G., worth $147,907 on Thursday, November 10.

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 $18.22 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 19.49 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.”

KEY Company Profile

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 recent KeyCorp (NYSE:KEY) news were published by: Nasdaq.com which released: “KeyCorp (KEY) Ex-Dividend Date Scheduled for November 25, 2016” on November 24, 2016. Also Prnewswire.com published the news titled: “KeyCorp Declares Quarterly Cash Dividend On Common Shares And Preferred Stocks” on November 17, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Great Plains Energy, TFS Financial and KeyCorp” with publication date: November 23, 2016 was also an interesting one.

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