KeyCorp (KEY) Upgraded to Positive at UBS

UBS upgraded shares of KeyCorp (NYSE:KEY) from a neutral rating to a positive rating in a research report released on Tuesday, The Fly reports.

KEY has been the subject of several other reports. ValuEngine cut KeyCorp from a buy rating to a hold rating in a research report on Monday, April 2nd. Barclays increased their price target on KeyCorp from $19.00 to $23.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. Vining Sparks reissued a buy rating and set a $25.00 price target on shares of KeyCorp in a research report on Friday, April 6th. DA Davidson increased their price target on KeyCorp to $26.00 and gave the company a buy rating in a research report on Friday, January 19th. Finally, Sandler O’Neill reissued a hold rating and set a $21.50 price target on shares of KeyCorp in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $22.45.

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NYSE:KEY opened at $20.07 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The stock has a market cap of $21,075.85, a P/E ratio of 13.90, a PEG ratio of 1.24 and a beta of 1.04. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. research analysts predict that KeyCorp will post 1.69 earnings per share for the current year.

In other news, insider Robert A. Deangelis sold 25,000 shares of the firm’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 value of $527,750.00. Following the completion of the sale, the insider now directly owns 175,053 shares of the company’s stock, valued at $3,695,368.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB lifted its holdings in KeyCorp by 4.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock worth $4,855,000 after purchasing an additional 10,948 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in KeyCorp by 1.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 655,339 shares of the financial services provider’s stock worth $13,218,000 after purchasing an additional 10,393 shares during the last quarter. We Are One Seven LLC acquired a new stake in KeyCorp during the 4th quarter worth approximately $183,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in KeyCorp by 87.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 59,113 shares of the financial services provider’s stock worth $1,192,000 after purchasing an additional 27,600 shares during the last quarter. Finally, Fore Capital LLC acquired a new stake in KeyCorp during the 4th quarter worth approximately $605,000. 81.88% of the stock is owned by institutional investors.

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KeyCorp Company Profile

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.

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