KeyCorp (NYSE:KEY) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded KeyCorp from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with one Strong Buy, 12 Buy and seven Hold ratings.
• KeyCorp shares opened at $20.09, with a market capitalization of $21.43 billion and a 12-month trading range of $16.47 to $24.07. Recent analyst price targets generally range from $23 to $26.
• The company exceeded quarterly earnings expectations, reporting $0.44 EPS versus a $0.42 consensus estimate, though revenue of $1.96 billion came slightly below the $1.97 billion forecast. Institutional investors own approximately 79.69% of the stock.

KeyCorp (NYSE:KEY - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on KEY. Keefe, Bruyette & Woods lifted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $24.50 to $23.00 and set a "neutral" rating for the company in a research note on Friday. Weiss Ratings reiterated a "buy (b)" rating on shares of KeyCorp in a report on Friday, August 7th. Stephens restated an "overweight" rating and set a $26.00 target price on shares of KeyCorp in a report on Tuesday, September 15th. Finally, Truist Financial decreased their price target on KeyCorp from $24.00 to $23.00 and set a "hold" rating for the company in a research note on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.94.

KeyCorp Trading Up 0.2%

Shares of NYSE:KEY opened at $20.09 on Friday. The firm has a fifty day moving average of $21.81 and a two-hundred day moving average of $21.77. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The firm has a market capitalization of $21.43 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. KeyCorp's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities analysts expect that KeyCorp will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently bought and sold shares of KEY. MCF Advisors LLC lifted its position in KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 456 shares during the period. Harbour Investments Inc. raised its stake in shares of KeyCorp by 19.0% during the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider's stock worth $66,000 after buying an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in KeyCorp by 5.4% in the first quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider's stock valued at $206,000 after buying an additional 522 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in KeyCorp by 1.7% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider's stock valued at $650,000 after acquiring an additional 556 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in KeyCorp by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider's stock valued at $526,000 after acquiring an additional 567 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Company Profile

KeyCorp NYSE: KEY is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank's offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.

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