KeyCorp (NYSE:KEY) Stock Lifted to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen upgraded KeyCorp from “Sell” to “Hold.” Despite mixed price-target changes from other analysts, the broader analyst consensus remains “Moderate Buy,” with 20 analysts issuing Buy or Strong Buy ratings versus seven Holds.
• KeyCorp reported quarterly EPS of $0.51, exceeding the $0.46 consensus estimate, while revenue reached $2.05 billion and increased 8.3% year over year.
• KeyCorp shares opened at $21.07, down 0.6%, with a 52-week range of $16.91 to $24.07. Institutional investors own approximately 79.69% of the company’s stock.

KeyCorp (NYSE:KEY - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

Several other research analysts also recently issued reports on the company. Royal Bank Of Canada reduced their price objective on KeyCorp from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Wednesday. Morgan Stanley boosted their target price on KeyCorp from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. cut their price target on KeyCorp from $24.50 to $23.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Stephens reaffirmed an "overweight" rating and set a $26.00 price target on shares of KeyCorp in a research note on Tuesday, September 15th. Finally, Wells Fargo & Company lifted their price objective on KeyCorp from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. 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. Based on data from MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.22.

KeyCorp Trading Down 0.6%

KEY opened at $21.07 on Friday. KeyCorp has a 1-year low of $16.91 and a 1-year high of $24.07. The stock has a market capitalization of $22.49 billion, a PE ratio of 11.58, a PEG ratio of 0.76 and a beta of 1.08. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $21.06 and a two-hundred day moving average price of $21.84.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. KeyCorp's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of KeyCorp by 5.4% during the first quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider's stock worth $206,000 after acquiring an additional 522 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of KeyCorp by 13.3% during the third quarter. TD Waterhouse Canada Inc. now owns 4,695 shares of the financial services provider's stock worth $94,000 after acquiring an additional 550 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in KeyCorp by 1.7% in the 1st 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 in the last quarter. V Square Quantitative Management LLC lifted its position in KeyCorp by 2.2% in the 1st 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 in the last quarter. Finally, CX Institutional lifted its position in KeyCorp by 4.6% in the 2nd quarter. CX Institutional now owns 13,346 shares of the financial services provider's stock valued at $308,000 after acquiring an additional 581 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank's offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.