KeyCorp was Downgraded to a Hold Rating at KBW

By Austin Angelo

KBW analyst Brian Klock downgraded KeyCorp (NYSE: KEY) to Hold today. The company’s shares closed yesterday at $17, close to its 52-week high of $17.57.

According to TipRanks.com, Klock is a 4-star analyst with an average return of 7.2% and a 66.7% success rate. Klock covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, First Bancorp Puerto Rico, and Oriental Financial Group.

Currently, the analyst consensus on KeyCorp is Moderate Buy and the average price target is $15.43, representing a -9.2% downside.

In a report issued on November 21, Standpoint Research also downgraded the stock to Hold.

Based on KeyCorp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.44 billion and quarterly net profit of $172 million. In comparison, last year the company earned revenue of $1.11 billion and had a net profit of $219 million.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KEY in relation to earlier this year. Most recently, in May 2015, Ruth Ann Gillis, a Director at KEY bought 5,200 shares for a total of $76,492.

KeyCorp is a bank holding company. The company through its subsidiary, KeyBank National Association provides retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services to individual, corporate and institutional clients. It operates through two business segments: Key Community Bank, Key Corporate Bank. The Key Community Bank segment serves individuals and small to mid-sized businesses by offering a variety of deposit, investment, lending, and personalized wealth management products and services. The Key Corporate Bank segment focuses on serving the needs of middle market clients in six industry sectors: consumer, energy, healthcare, industrial, public sector and real estate. Key Corporate Bank delivers a broad product suite of banking and capital markets products to its clients, including syndicated finance, debt and equity capital markets, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory and public finance. KeyCorp was founded in 1958 and is headquartered in Cleveland, OH.