The stock of KeyCorp (NYSE:KEY) hit a new 52-week high and has $22.38 target or 54.00% above today’s $14.53 share price. The 9 months bullish chart indicates low risk for the $15.54B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $22.38 price target is reached, the company will be worth $8.39B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.33 million shares traded hands. KeyCorp (NYSE:KEY) has risen 30.09% since April 5, 2016 and is uptrending. It has outperformed by 28.14% the S&P500.
KeyCorp (NYSE:KEY) Ratings Coverage
Out of 25 analysts covering Keycorp (NYSE:KEY), 19 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 76% are positive. $18 is the highest target while $2 is the lowest. The $14.90 average target is 2.55% above today’s ($14.53) stock price. Keycorp has been the topic of 49 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Barclays Capital maintained it with “Underweight” rating and $15 target price in Friday, October 16 report. Bernstein upgraded KeyCorp (NYSE:KEY) on Wednesday, August 26 to “Outperform” rating. The company was upgraded on Monday, November 2 by Keefe Bruyette & Woods. Deutsche Bank downgraded KeyCorp (NYSE:KEY) on Monday, November 9 to “Hold” rating. The stock has “Outperform” rating given by BMO Capital Markets on Wednesday, September 9. Sterne Agee CRT initiated KeyCorp (NYSE:KEY) on Thursday, August 20 with “Buy” rating. The rating was initiated by Piper Jaffray on Tuesday, November 24 with “Overweight”. The rating was upgraded by KBW on Wednesday, August 12 to “Market Perform”. As per Monday, August 22, the company rating was maintained by Citigroup. The company was upgraded on Monday, January 4 by Sandler O’Neill.
According to Zacks Investment Research, “KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management, retail and commercial banking, consumer finance and investment banking products and services to corporate, individual and institutional clients through four lines of business: Key Retail Banking, Key Specialty Finance, Key Corporate Capital and Key Capital Partners.”
Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.27, from 1.36 in 2016Q1. The ratio fall, as 39 funds sold all KeyCorp shares owned while 186 reduced positions. 56 funds bought stakes while 189 increased positions. They now own 702.32 million shares or 2.46% more from 685.48 million shares in 2016Q1.
Cibc Asset Management has 0.01% invested in the company for 102,004 shares. Manning & Napier Advisors Ltd Limited Liability Company owns 68,798 shares or 0% of their US portfolio. Sii Investments Wi last reported 14,057 shares in the company. Manufacturers Life The holds 0.08% or 4.69M shares in its portfolio. Moreover, State Bank Of America Corp De has 0.02% invested in KeyCorp (NYSE:KEY) for 9.66 million shares. Ccm Invest Advisers Ltd, a South Carolina-based fund reported 557,192 shares. Focused Wealth Mgmt holds 0% of its portfolio in KeyCorp (NYSE:KEY) for 254 shares. Blackrock holds 0.06% or 3.45 million shares in its portfolio. Seven Eight Capital Ltd holds 215,400 shares or 0.82% of its portfolio. Moreover, Salem Invest Counselors has 0.15% invested in KeyCorp (NYSE:KEY) for 65,894 shares. Ww Asset Mgmt has 0.04% invested in the company for 83,612 shares. Basswood Capital Mgmt Limited Liability Corporation reported 2.42 million shares or 1.55% of all its holdings. Creative Planning has 0% invested in the company for 48,721 shares. The Georgia-based Atlanta Grp has invested 0.03% in KeyCorp (NYSE:KEY). Axa holds 0.01% of its portfolio in KeyCorp (NYSE:KEY) for 265,700 shares.
Insider Transactions: Since May 16, 2016, the stock had 2 buys, and 0 insider sales for $239,950 net activity. 5,000 shares were bought by COOLEY CHARLES P, worth $62,050 on Thursday, May 19. $177,900 worth of KeyCorp (NYSE:KEY) was bought by CUTLER ALEXANDER M.
More notable recent KeyCorp (NYSE:KEY) news were published by: Wsj.com which released: “KeyCorp Revenue Climbs on First Niagara Deal” on October 25, 2016, also Bizjournals.com with their article: “KeyCorp leaders must decide what to do with 3 Albany offices” published on October 27, 2016, Prnewswire.com published: “KeyCorp Reports 2016 Dodd-Frank Act Mid-Cycle Stress Test Results” on November 02, 2016. More interesting news about KeyCorp (NYSE:KEY) were released by: Buffalonews.com and their article: “KeyCorp CEO apologizes for online account snags” published on October 13, 2016 as well as Prnewswire.com‘s news article titled: “KeyCorp Declares Cash Dividend for Series C Preferred Stock” with publication date: October 20, 2016.
KEY Company Profile
KeyCorp, incorporated on December 31, 1958, is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking services and products to individual, corporate and institutional clients. The Company’s divisions include Key Community Bank and Key Corporate Bank. The Company’s Other Segments consist of corporate treasury, principal investing unit and various exit portfolios.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.