KeyCorp (NYSE:KEY) Downgraded to Hold Rating by Baird R W

KeyCorp (NYSE:KEY - Get Free Report) was downgraded by analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Barclays cut their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Bank of America raised their price target on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Cowen began coverage on KeyCorp in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.97.

KeyCorp Trading Up 2.0%

Shares of KEY opened at $18.22 on Wednesday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a market cap of $19.97 billion, a PE ratio of -107.18, a P/E/G ratio of 0.67 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The business's 50-day moving average price is $16.03 and its 200-day moving average price is $16.32.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has initiated a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the sale, the insider owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the transaction, the director directly owned 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of KEY. Whittier Trust Co. boosted its position in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new position in KeyCorp during the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new stake in KeyCorp in the fourth quarter worth $28,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the first quarter worth $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 79.69% 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 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.

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