KeyCorp (KEY) Given “Buy” Rating at Vining Sparks

KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reiterated by equities researchers at Vining Sparks in a research report issued on Friday. They currently have a $25.00 price objective on the financial services provider’s stock. Vining Sparks’ target price would suggest a potential upside of 30.96% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. CIBC reiterated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, December 26th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, December 14th. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.50 price objective on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Barclays raised their price objective on shares of KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.14.

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Shares of KEY opened at $19.09 on Friday. The stock has a market capitalization of $20,937.96, a P/E ratio of 14.04, a P/E/G ratio of 1.25 and a beta of 1.04. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter in the prior year, the firm posted $0.31 EPS. equities research analysts expect that KeyCorp will post 1.67 EPS for the current fiscal year.

In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,857 shares of company stock valued at $1,953,548. Corporate insiders own 0.65% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zions Bancorporation lifted its position in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in shares of KeyCorp in the third quarter worth approximately $132,000. We Are One Seven LLC purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $183,000. Davis R M Inc. purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $217,000. Finally, Jump Trading LLC purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $219,000. 81.70% of the stock is owned by institutional investors and hedge funds.

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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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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