TD Securities Trims KeyCorp (NYSE:KEY) Target Price to $39.00

KeyCorp (NYSE:KEY) had its price target cut by TD Securities from $42.00 to $39.00 in a research report sent to investors on Thursday, November 7th, Stock Target Advisor reports. They currently have a buy rating on the financial services provider’s stock.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Several other equities research analysts also recently weighed in on KEY. BMO Capital Markets reduced their price target on KeyCorp from $36.00 to $34.00 and set a market perform rating on the stock in a report on Wednesday, November 6th. Piper Jaffray Companies set a $19.00 price objective on KeyCorp and gave the stock a buy rating in a research note on Wednesday, September 4th. Wedbush increased their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on KeyCorp from $21.00 to $20.50 and set an overweight rating on the stock in a research note on Thursday, October 3rd. Finally, Nomura set a $18.00 target price on KeyCorp and gave the company a hold rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $24.93.

KEY stock traded up $0.10 during midday trading on Thursday, reaching $18.97. 5,248,623 shares of the company traded hands, compared to its average volume of 9,032,897. KeyCorp has a 52-week low of $13.65 and a 52-week high of $19.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. The business has a 50 day moving average of $18.06 and a 200-day moving average of $17.38. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 2.58 and a beta of 1.29.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. KeyCorp had a return on equity of 12.71% and a net margin of 21.93%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts anticipate that KeyCorp will post 1.8 earnings per share for the current year.

In other news, CEO Beth E. Mooney sold 437,737 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $18.28, for a total transaction of $8,001,832.36. Following the sale, the chief executive officer now directly owns 1,662,612 shares in the company, valued at approximately $30,392,547.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amy G. Brady sold 10,806 shares of KeyCorp stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $18.02, for a total value of $194,724.12. The disclosure for this sale can be found here. Insiders have sold a total of 673,027 shares of company stock valued at $12,352,973 in the last quarter. Company insiders own 0.08% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Rational Advisors LLC boosted its holdings in shares of KeyCorp by 80.7% during the 3rd quarter. Rational Advisors LLC now owns 10,408 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 4,649 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $2,618,000. BancorpSouth Bank acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $3,097,000. Corient Capital Partners LLC boosted its holdings in shares of KeyCorp by 26.2% during the 3rd quarter. Corient Capital Partners LLC now owns 15,778 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 3,272 shares during the last quarter. Finally, BBVA USA Bancshares Inc. boosted its holdings in shares of KeyCorp by 4.2% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 52,344 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 2,089 shares during the last quarter. Institutional investors own 81.58% of the company’s stock.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

Featured Story: Why do companies engage in swaps?

Analyst Recommendations for KeyCorp (NYSE:KEY)

Leave a Reply

Your email address will not be published. Required fields are marked *

*