BMO Capital Markets Cuts KeyCorp (KEY) Price Target to $24.00

KeyCorp (NYSE:KEY) had its price objective reduced by BMO Capital Markets from $25.00 to $24.00 in a research report released on Friday morning. They currently have an outperform rating on the financial services provider’s stock.

KEY has been the topic of a number of other reports. ValuEngine cut KeyCorp from a buy rating to a hold rating in a research report on Monday, April 2nd. Barclays boosted their price target on KeyCorp from $19.00 to $23.00 and gave the stock an underweight rating in a research report on Tuesday, January 2nd. Vining Sparks reissued a buy rating and issued a $25.00 price target on shares of KeyCorp in a research report on Friday, April 6th. DA Davidson boosted their price target on KeyCorp to $26.00 and gave the stock a buy rating in a research report on Friday, January 19th. Finally, Sandler O’Neill reissued a hold rating and issued a $21.50 price target on shares of KeyCorp in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $22.21.

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KeyCorp stock opened at $19.87 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.40. The company has a market cap of $21,065.24, a price-to-earnings ratio of 14.61, a PEG ratio of 1.24 and a beta of 1.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. analysts forecast that KeyCorp will post 1.69 earnings per share for the current year.

In related news, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total transaction of $527,750.00. Following the completion of the transaction, the insider now owns 175,053 shares of the company’s stock, valued at $3,695,368.83. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. We Are One Seven LLC purchased a new stake in KeyCorp during the 4th quarter valued at $183,000. Davis R M Inc. purchased a new stake in KeyCorp during the 4th quarter valued at $217,000. Jump Trading LLC purchased a new stake in KeyCorp during the 4th quarter valued at $219,000. CIBC World Markets Inc. purchased a new stake in KeyCorp during the 4th quarter valued at $224,000. Finally, Valeo Financial Advisors LLC raised its stake in KeyCorp by 136.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 11,108 shares of the financial services provider’s stock valued at $224,000 after buying an additional 6,419 shares during the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.

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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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