KeyCorp (NYSE:KEY) Downgraded by Robert W. Baird to Neutral

Robert W. Baird cut shares of KeyCorp (NYSE:KEY) from an outperform rating to a neutral rating in a report published on Monday morning, Marketbeat.com reports. Robert W. Baird currently has $17.00 price objective on the financial services provider’s stock, down from their previous price objective of $18.00.

A number of other research firms also recently issued reports on KEY. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of KeyCorp in a research note on Tuesday, August 13th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Evercore ISI raised their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

KeyCorp Stock Up 1.2 %

Shares of KeyCorp stock opened at $17.70 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $16.50 and a 200 day moving average price of $15.33. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.94. The firm has a market cap of $16.69 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.97 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KEY. Ceredex Value Advisors LLC boosted its stake in KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in KeyCorp during the first quarter valued at about $42,857,000. National Bank of Canada FI grew its holdings in KeyCorp by 1,051.3% during the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after acquiring an additional 2,346,565 shares during the period. Point72 Asset Management L.P. bought a new stake in KeyCorp in the second quarter worth about $33,273,000. Finally, Earnest Partners LLC lifted its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after acquiring an additional 2,339,454 shares during the last quarter. Institutional investors and hedge funds 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.