The stock of KeyCorp (NYSE:KEY) hit a new 52-week high and has $18.32 target or 3.00% above today’s $17.79 share price. The 7 months bullish chart indicates low risk for the $19.56 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $18.32 price target is reached, the company will be worth $586.80 million 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 11.56M shares traded hands. KeyCorp (NYSE:KEY) has risen 39.37% since April 28, 2016 and is uptrending. It has outperformed by 33.45% the S&P500.
Analysts await KeyCorp (NYSE:KEY) to report earnings on January, 19. They expect $0.29 EPS, up 3.57% or $0.01 from last year’s $0.28 per share. KEY’s profit will be $318.85M for 15.34 P/E if the $0.29 EPS becomes a reality. After $0.30 actual EPS reported by KeyCorp for the previous quarter, Wall Street now forecasts -3.33% negative EPS growth.
KeyCorp (NYSE:KEY) Ratings Coverage
Out of 25 analysts covering Keycorp (NYSE:KEY), 14 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 56% are positive. Keycorp has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock of KeyCorp (NYSE:KEY) earned “Neutral” rating by Susquehanna on Wednesday, November 9. The rating was maintained by Citigroup with “Buy” on Monday, August 22. The stock of KeyCorp (NYSE:KEY) earned “Buy” rating by Sandler O’Neill on Monday, January 4. The rating was maintained by FBR Capital on Tuesday, October 25 with “Outperform”. FBR Capital upgraded the stock to “Outperform” rating in Monday, July 11 report. The firm earned “Buy” rating on Wednesday, January 6 by Nomura. Piper Jaffray initiated KeyCorp (NYSE:KEY) on Tuesday, November 24 with “Overweight” rating. The firm has “Strong-Buy” rating given on Friday, August 28 by Vetr. The firm has “Hold” rating given on Monday, November 9 by Deutsche Bank. Jefferies maintained KeyCorp (NYSE:KEY) on Wednesday, July 27 with “Buy” rating.
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 increased to 2.05 in 2016 Q2. Its up 0.96, from 1.09 in 2016Q1. The ratio is positive, 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.
Moreover, Advsrs Asset Mgmt has 0.01% invested in KeyCorp (NYSE:KEY) for 52,693 shares. Signia Capital Limited Com holds 0.62% of its portfolio in KeyCorp (NYSE:KEY) for 17,857 shares. Moreover, Bankshares Of Nova Scotia has 0% invested in KeyCorp (NYSE:KEY) for 16,692 shares. Patten & Patten Tn holds 0.05% or 30,000 shares in its portfolio. The Ontario – Canada-based Breton Hill Capital has invested 0.29% in KeyCorp (NYSE:KEY). Allstate Corporation last reported 0.03% of its portfolio in the stock. Lumbard Kellner Ltd Llc has invested 1.46% of its portfolio in KeyCorp (NYSE:KEY). Endeavour Advisors Incorporated reported 970,693 shares or 0.8% of all its holdings. Advance I accumulated 0.3% or 25,300 shares. Symphony Asset Ltd Llc reported 113,404 shares or 0.14% of all its holdings. Susquehanna Grp Llp has invested 0% of its portfolio in KeyCorp (NYSE:KEY). Cypress Cap Ltd Company (Wy) accumulated 2,530 shares or 0% of the stock. Millennium Ltd Liability last reported 0.34% of its portfolio in the stock. Equity Inv Ga holds 14,845 shares or 0.01% of its portfolio. Geode Mngmt Limited Com holds 0.04% or 7.45 million shares in its portfolio.
Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 1 sale for $147,907 net activity. On Thursday, November 10 the insider Brady Amy G. sold $147,907.
More news for KeyCorp (NYSE:KEY) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Great Plains Energy, TFS Financial and KeyCorp” on November 23, 2016. Businesswire.com‘s article titled: “Fitch Takes Various Actions on KeyCorp Student Loan Trust 2006-A (Group II)” and published on December 01, 2016 is yet another important article.
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.
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