KeyCorp’s (KEY) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c-) rating on shares of KeyCorp (NYSE:KEY) in a research report released on Friday morning,Weiss Ratings reports.

A number of other brokerages have also recently commented on KEY. UBS Group upped their price target on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Truist Financial dropped their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. TD Cowen upped their price target on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, October 3rd. Royal Bank Of Canada upped their price target on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Hold” and an average target price of $20.75.

KeyCorp Stock Up 0.6%

Shares of NYSE:KEY opened at $17.62 on Friday. The company has a market capitalization of $19.32 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day moving average price of $18.44 and a two-hundred day moving average price of $17.38. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business’s revenue for the quarter was up 172.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. Analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Insider Activity

In related news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its position in shares of KeyCorp by 23.2% during the 2nd quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after purchasing an additional 20,228 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of KeyCorp during the 1st quarter valued at about $2,171,000. Signal Advisors Wealth LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at about $431,000. Gradient Investments LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at about $1,973,000. Finally, AQR Capital Management LLC increased its position in shares of KeyCorp by 5.1% during the 1st quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock valued at $6,495,000 after purchasing an additional 20,429 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.