KeyCorp (NYSE:KEY) Upgraded at Wall Street Zen

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

Other analysts have also recently issued research reports about the company. Robert W. Baird increased their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada decreased their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 21st. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. Wells Fargo & Company increased their price target on shares of KeyCorp from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, DA Davidson raised their price objective on shares of KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. One investment 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 company. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $46.22.

KeyCorp Stock Performance

NYSE:KEY opened at $21.14 on Friday. The stock’s fifty day moving average price is $21.00 and its two-hundred day moving average price is $21.54. KeyCorp has a 1 year low of $16.91 and a 1 year high of $24.07.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. KeyCorp’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts expect that KeyCorp will post 1.86 EPS for the current year.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in shares of KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 522 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of KeyCorp by 13.3% during the third quarter. TD Waterhouse Canada Inc. now owns 4,695 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 550 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of KeyCorp by 1.7% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 556 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of KeyCorp by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 567 shares during the last quarter. Finally, CX Institutional raised its stake in KeyCorp by 4.6% in the second quarter. CX Institutional now owns 13,346 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 581 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.