Research Analysts’ Recent Ratings Updates for KeyCorp (KEY)

Several brokerages have updated their recommendations and price targets on shares of KeyCorp (NYSE: KEY) in the last few weeks:

  • 8/9/2017 – KeyCorp is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $19.00 price target on the stock.
  • 7/31/2017 – KeyCorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/28/2017 – KeyCorp had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $21.00 price target on the stock.
  • 7/27/2017 – KeyCorp had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $22.00 price target on the stock.
  • 7/22/2017 – KeyCorp had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 7/21/2017 – KeyCorp had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $20.50 price target on the stock.
  • 7/20/2017 – KeyCorp was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $21.00 price target on the stock, up previously from $20.00.
  • 7/19/2017 – KeyCorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/14/2017 – KeyCorp had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $21.00 price target on the stock.
  • 7/12/2017 – KeyCorp had its “buy” rating reaffirmed by analysts at Instinet. They now have a $23.00 price target on the stock.
  • 7/12/2017 – KeyCorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “KeyCorp’s shares outperformed the Zacks categorized Major Regional Banks industry over the last three months. The bank remains well positioned to benefit from rising rate environment, potential lesser regulations once the Financial Choice Act gets implemented and improving economic stability. Improving loan and deposit balances will lead to further improvement in top-line. However, exposure to real estate loans poses a risk to the company. Though there has been an improvement in the housing sector, any further deterioration in the real estate prices will create troubles for the company.”
  • 7/11/2017 – KeyCorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “KeyCorp’s shares outperformed the Zacks categorized Major Regional Banks industry over the last three months. The bank remains well positioned to benefit from rising rate environment, potential lesser regulations and improving economic stability. These along with improving loan and deposit balances will lead to further improvement in top-line. However, exposure to real estate loans poses a risk to the company. Though there has been an improvement in the housing sector, any further deterioration in the real estate prices will create troubles for the company.”
  • 7/10/2017 – KeyCorp was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating. They now have a $22.00 price target on the stock, up previously from $19.00. They wrote, “We expect Key to continue delivering positive operating leverage, and, despite not being seen as a capital return story, the company has capacity to sustain or even increase its payout ratios from the current 80% of earnings in the coming CCAR cycles,”
  • 7/10/2017 – KeyCorp was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $21.00 price target on the stock.
  • 7/7/2017 – KeyCorp had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $22.00 price target on the stock, up previously from $21.00.
  • 7/3/2017 – KeyCorp had its “hold” rating reaffirmed by analysts at Deutsche Bank AG.
  • 6/24/2017 – KeyCorp was given a new $20.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 6/21/2017 – KeyCorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “KeyCorp’s shares outperformed the Zacks categorized Major Regional Banks industry over the last three months. The bank remains well positioned to benefit from rising rate environment and improving economic stability. With the passage of the Financial Choice Act, the company is likely to increase lending activities, which along with improving loan and deposit balances will lead to further improvement in top-line. While exposure to real estate loans poses a risk to the company, the First Niagara deal synergies are expected to support its bottom-line growth.”

Shares of KeyCorp (NYSE KEY) opened at 17.62 on Friday. The company’s 50-day moving average price is $18.52 and its 200-day moving average price is $18.27. The stock has a market cap of $19.16 billion, a PE ratio of 17.50 and a beta of 1.11. KeyCorp has a 52-week low of $11.89 and a 52-week high of $19.53.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company’s revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Analysts expect that KeyCorp will post $1.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.16%. KeyCorp’s dividend payout ratio (DPR) is 38.78%.

In other news, Director Ruth Ann M. Gillis acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $18.00 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the director now directly owns 10,551 shares in the company, valued at approximately $189,918. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce D. Broussard acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was purchased at an average price of $18.17 per share, with a total value of $45,425.00. Following the acquisition, the director now owns 12,500 shares of the company’s stock, valued at $227,125. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 14,000 shares of company stock valued at $254,720 and sold 259,409 shares valued at $4,794,449. Corporate insiders own 0.65% of the company’s stock.

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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