ValuEngine Downgrades KeyCorp (NYSE:KEY) to Sell

ValuEngine downgraded shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a report released on Wednesday, ValuEngine reports.

KEY has been the subject of several other reports. UBS Group upped their price objective on KeyCorp from $21.00 to $22.00 and gave the stock a buy rating in a research note on Thursday, October 3rd. Robert W. Baird raised shares of KeyCorp from a neutral rating to an outperform rating and increased their price objective for the company from $18.00 to $19.00 in a report on Friday, June 21st. BMO Capital Markets increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a market perform rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $19.00 price objective on shares of KeyCorp and gave the company a buy rating in a report on Wednesday, September 4th. Finally, Nomura set a $18.00 price objective on shares of KeyCorp and gave the company a hold rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $23.74.

NYSE:KEY opened at $17.77 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 3.58 and a beta of 1.29. KeyCorp has a one year low of $13.65 and a one year high of $18.96. The business has a fifty day moving average price of $17.45 and a 200-day moving average price of $17.13.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a return on equity of 12.71% and a net margin of 21.93%. KeyCorp’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. On average, equities research analysts expect that KeyCorp will post 1.77 earnings per share for the current fiscal year.

In related news, insider Amy G. Brady sold 10,806 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now directly owns 85,469 shares in the company, valued at $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of KeyCorp during the third quarter worth approximately $35,000. Cordasco Financial Network purchased a new position in KeyCorp during the third quarter valued at approximately $43,000. Manchester Financial Inc. purchased a new position in KeyCorp during the second quarter valued at approximately $46,000. Coastal Capital Group Inc. purchased a new position in KeyCorp during the second quarter valued at approximately $50,000. Finally, CSat Investment Advisory L.P. increased its holdings in KeyCorp by 202.9% during the second quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,068 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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