KeyCorp (NYSE:KEY) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Several other analysts have also recently weighed in on KEY. Argus raised KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group dropped their price target on shares of KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Robert W. Baird boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Stephens restated an “overweight” rating and issued a $26.00 price objective on shares of KeyCorp in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $46.33.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $19.98 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $21.27 and a 200 day simple moving average of $21.81. KeyCorp has a fifty-two week low of $16.79 and a fifty-two week high of $24.07. The firm has a market cap of $21.32 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.75 and a beta of 1.08.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Sell-side analysts predict that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Several institutional investors have recently modified their holdings of KEY. Bank of Nova Scotia raised its position in shares of KeyCorp by 0.6% in the 1st quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock valued at $3,268,076,000 after acquiring an additional 900,951 shares during the period. BlackRock Inc. acquired a new position in KeyCorp during the second quarter valued at approximately $2,039,113,000. State Street Corp grew its holdings in KeyCorp by 9.0% during the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock valued at $1,184,048,000 after purchasing an additional 4,238,225 shares during the period. Deutsche Bank AG acquired a new position in KeyCorp during the second quarter valued at approximately $380,244,000. Finally, North Reef Capital Management LP acquired a new position in KeyCorp during the first quarter valued at approximately $253,632,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.