KeyCorp (NYSE:KEY) Earns Underperform Rating from Robert W. Baird

by · The Cerbat Gem

KeyCorp (NYSE:KEY – Get Free Report)‘s stock had its “underperform” rating reissued by investment analysts at Robert W. Baird in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $18.00 price target on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential downside of 15.79% from the stock’s current price.

KEY has been the subject of a number of other research reports. Truist Financial increased their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Barclays increased their target price on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price target on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “positive” rating on shares of KeyCorp in a report on Wednesday, December 10th. Finally, UBS Group raised their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.79.

Read Our Latest Stock Analysis on KeyCorp

KeyCorp Price Performance

KEY stock opened at $21.38 on Tuesday. The firm has a market cap of $23.36 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.74. The stock has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $18.55.

KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, equities analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Catherine Avery Investment Management LLC purchased a new stake in KeyCorp in the 4th quarter valued at $3,943,000. Park Avenue Securities LLC raised its holdings in shares of KeyCorp by 21.0% in the fourth quarter. Park Avenue Securities LLC now owns 44,683 shares of the financial services provider’s stock valued at $922,000 after purchasing an additional 7,760 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at about $30,000. GAMMA Investing LLC lifted its position in shares of KeyCorp by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 41,298 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in KeyCorp during the third quarter worth about $112,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report)

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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