KeyCorp (KEY) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of KeyCorp (NYSE:KEY) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other equities analysts have also issued reports on KEY. Zacks Investment Research lowered KeyCorp from a hold rating to a sell rating in a report on Monday, October 30th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of KeyCorp in a report on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $21.00 target price on shares of KeyCorp in a report on Thursday, October 19th. Citigroup Inc. upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a neutral rating in a report on Monday, October 9th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $20.82.

Shares of KeyCorp (NYSE:KEY) opened at $18.14 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $19,507.76, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. KeyCorp has a twelve month low of $16.28 and a twelve month high of $19.53.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. sell-side analysts predict that KeyCorp will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.32%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. KeyCorp’s dividend payout ratio is 33.33%.

In other KeyCorp news, Director Carlton L. Highsmith sold 7,600 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the transaction, the director now directly owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation lifted its position in shares of KeyCorp by 2,277.5% during the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in shares of KeyCorp during the third quarter worth $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of KeyCorp during the third quarter worth $145,000. Sun Life Financial INC lifted its position in shares of KeyCorp by 80,370.0% during the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares in the last quarter. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of KeyCorp during the third quarter worth $173,000. 82.42% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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