KeyCorp (NYSE:KEY)‘s stock had its “hold” rating restated by research analysts at Oppenheimer Holdings, Inc. in a report issued on Saturday, July 22nd. Oppenheimer Holdings also issued estimates for KeyCorp’s Q3 2017 earnings at $0.35 EPS and Q4 2017 earnings at $0.35 EPS.
A number of other equities research analysts have also recently issued reports on KEY. Keefe, Bruyette & Woods set a $18.00 target price on shares of KeyCorp and gave the company a “hold” rating in a report on Saturday, March 25th. FBR & Co reissued an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of KeyCorp in a report on Thursday, April 20th. Nomura reaffirmed a “buy” rating and issued a $23.00 price target on shares of KeyCorp in a report on Friday, April 21st. Instinet reaffirmed a “buy” rating and issued a $23.00 price target (up previously from $22.00) on shares of KeyCorp in a report on Sunday, April 23rd. Finally, Piper Jaffray Companies raised shares of KeyCorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $21.00 in a report on Monday, April 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. KeyCorp presently has a consensus rating of “Hold” and a consensus target price of $19.74.
Shares of KeyCorp (NYSE:KEY) traded down 1.12% during midday trading on Friday, reaching $17.59. The company’s stock had a trading volume of 16,152,472 shares. KeyCorp has a 12 month low of $11.89 and a 12 month high of $19.53. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 17.47 and a beta of 1.11. The stock has a 50-day moving average of $18.44 and a 200 day moving average of $18.25.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. On average, analysts predict that KeyCorp will post $1.36 earnings per share for the current fiscal year.
KeyCorp declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4% 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.
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In other KeyCorp news, insider Angela G. Mago sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $18.48, for a total transaction of $92,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ruth Ann M. Gillis bought 2,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $17.91 per share, with a total value of $35,820.00. Following the purchase, the director now directly owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 16,000 shares of company stock valued at $290,540 and sold 259,409 shares valued at $4,794,449. 0.65% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Focused Wealth Management Inc increased its position in shares of KeyCorp by 613.0% in the first quarter. Focused Wealth Management Inc now owns 5,961 shares of the financial services provider’s stock worth $106,000 after buying an additional 5,125 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in shares of KeyCorp by 20.2% in the first quarter. Thompson Davis & CO. Inc. now owns 6,699 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,125 shares in the last quarter. Cypress Capital Management LLC WY increased its position in shares of KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares in the last quarter. Sun Life Financial INC increased its position in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares in the last quarter. Finally, CI Investments Inc. acquired a new position in shares of KeyCorp during the first quarter worth $160,000. 81.91% of the stock is owned by institutional investors and hedge funds.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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