TD Securities Trims KeyCorp (NYSE:KEY) Target Price to $39.00

KeyCorp (NYSE:KEY) had its price objective reduced by TD Securities from $42.00 to $39.00 in a report issued on Thursday morning, Stock Target Advisor reports. They currently have a buy rating on the financial services provider’s stock.

KEY has been the topic of a number of other reports. BMO Capital Markets dropped their price objective on shares of KeyCorp from $36.00 to $34.00 and set a market perform rating on the stock in a report on Wednesday. ValuEngine lowered shares of KeyCorp from a hold rating to a sell rating in a report on Wednesday, October 16th. UBS Group boosted their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the company a buy rating in a report on Thursday, October 3rd. Wedbush boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a neutral rating in a report on Friday, October 18th. Finally, Morgan Stanley dropped their price objective on shares of KeyCorp from $21.00 to $20.50 and set an overweight rating on the stock in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the stock. KeyCorp presently has a consensus rating of Hold and a consensus target price of $24.89.

Shares of KEY traded up $0.06 during trading hours on Thursday, reaching $19.36. 6,369,510 shares of the company traded hands, compared to its average volume of 10,636,943. The stock has a market capitalization of $18.90 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.62 and a beta of 1.29. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. KeyCorp has a 12-month low of $13.65 and a 12-month high of $19.48. The business has a fifty day moving average price of $17.90 and a 200-day moving average price of $17.31.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts predict that KeyCorp will post 1.8 EPS for the current fiscal year.

In related news, General Counsel Paul N. Harris sold 173,777 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $18.50, for a total transaction of $3,214,874.50. Following the completion of the transaction, the general counsel now directly owns 78,811 shares in the company, valued at $1,458,003.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trina M. Evans sold 25,436 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $18.32, for a total transaction of $465,987.52. Following the transaction, the director now owns 108,678 shares of the company’s stock, valued at $1,990,980.96. The disclosure for this sale can be found here. Insiders have sold 657,271 shares of company stock valued at $12,049,355 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of KEY. Raymond James Trust N.A. raised its position in shares of KeyCorp by 4.0% during the 3rd quarter. Raymond James Trust N.A. now owns 14,372 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 555 shares during the last quarter. Hartford Investment Management Co. grew its stake in KeyCorp by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 156,120 shares of the financial services provider’s stock valued at $2,771,000 after acquiring an additional 564 shares in the last quarter. Signaturefd LLC grew its stake in KeyCorp by 9.0% during the 3rd quarter. Signaturefd LLC now owns 7,248 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 597 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in KeyCorp by 2.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 24,712 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 619 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in KeyCorp by 13.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,649 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 657 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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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