Economy

KeyCorp (NYSE:KEY) Trading Down - Shorts Up 12.96%

Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of KeyCorp (NYSE:KEY). 3,527,253 shares of the stock were exchanged. Taylor Wealth Management Partners now owns 339,075 shares of the financial services provider's stock valued at $6,029,000 after purchasing an additional 118,425 shares during the period. Essex Financial Services Inc. grew its holdings in KeyCorp by 0.3% during the second quarter. Next Financial Group, Inc now holds 2,800 shares worth $52,000,000. That puts total institutional holdings at 900,733,234 shares, according to SEC filings. Mcmillion Capital Management has an ownership of 163,016 stocks of the financial services provider's shares valued at $3,055,000 following acquiring an extra 540 stocks in the previous period. Pinnacle Associates Ltd.'s holdings in KeyCorp were worth $1,990,000 at the end of the most recent quarter.

About shares traded. Select Income REIT (SIR) has risen 1.22% since September 6, 2016 and is uptrending.

Institutional investors now hold around $15.64 billion or 81.9% in KEY stock.

COPYRIGHT VIOLATION WARNING: This report was first reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this report on another publication, it was stolen and republished in violation of United States & global copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/09/06/greenwood-capital-associates-llc-increases-position-in-keycorp-key.html. Carlson Cap Lp reported 0.28% in KeyCorp (NYSE:KEY). The lowest target is $2 while the high is $23.

KeyCorp has a 50 day moving average of 17.89 and a 200 day moving average of 18.17. Vanguard Group Inc owns $1.93 billion in KeyCorp, which represents roughly 10.2% of the company's market cap and approximately 12.37% of the institutional ownership. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. KeyCorp's quarterly revenue was up 52.1% on a year-over-year basis. During the same period a year ago, the firm earned $0.27 earnings per share.

As of late the company also disclosed a divided for the quarter, expected to be paid on early Fri, Sep 15th. traders with a divided record date on Tue, Aug 29th will be paid a $0.095 dividend. Jefferies maintained the shares of KEY in report on Friday, August 11 with "Buy" rating. KeyCorp's payout ratio is 38.78%. This repurchase authorization authorizes the financial services provider to buy up to 4% of its shares through open market purchases. Moreover, Boulegeris Investments Inc. has 1.89% invested in the company for 123,525 shares.

In related news, Director Alexander M. Cutler purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, July 25th. Amy G. Brady, CIO reported the sale of 18,000 shares. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued. The information was declared in a document with the SEC which is accessible through this link. Zacks Investment Research raised shares of KeyCorp from a "hold" rating to a "buy" rating and set a $21.00 target price on the stock in a research report on Wednesday, June 21st. The total value of its holdings increased 299,313.6%. Following the completion of the transaction, the director now directly owns 15,000 shares of the company's stock, valued at $268,050. The disclosure for this purchase can be found here. This company shares are 18.78% off its target price of $20.62 and the current market capitalization stands at $18.96B. The stock witnessed -3.72% declines, -0.74% declines and -8.58% declines for the 1-month, 3-month and 6-month period, respectively.

Several equities analysts have commented on KEY shares. Keefe, Bruyette & Woods raised shares of KeyCorp from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Monday, July 10th.

07/11/2017 - KeyCorp had its "buy" rating reiterated by analysts at Instinet. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. On July 10 the company was upgraded to "Buy" from "Buy" in a statement from UBS. The stock presently has an average rating of "Hold" and an average target price of $19.98.

Deutsche Bank AG restated a "hold" recommendation on stocks of KeyCorp in a note on Mon, Jul 3rd. The Company's principal business activities are conducted through its subsidiary, Pacific Continental Bank, an OR state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation. The Firm operates through its subsidiary, KeyBank National Association, which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking services and products to individual, corporate and institutional clients.



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