KeyCorp (KEY) is Upgraded by Morgan Stanley to Overweight

KeyCorp (KEY) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 5, 2016.

Many Wall Street Analysts have commented on KeyCorp. Morgan Stanley Resumed KeyCorp on Apr 12, 2016 to “Equal-Weight”, Price Target of the shares are set at $13.50.

On the company’s financial health, KeyCorp reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.25. The company had revenue of $1043.00 million for the quarter, compared to analysts expectations of $1038.91 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

KeyCorp closed down -0.09 points or -0.81% at $10.96 with 1,76,36,815 shares getting traded on Friday. Post opening the session at $10.97, the shares hit an intraday low of $10.88 and an intraday high of $11.11 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 23, 2016, Charles P Cooley (director) purchased 5,000 shares at $12.41 per share price. According to the SEC, on May 18, 2016, Alexander M Cutler (director) purchased 15,000 shares at $11.86 per share price. On May 9, 2016, Elizabeth R. Gile (director) purchased 13,000 shares at $11.87 per share price, according to the Form-4 filing with the securities and exchange commission.

KeyCorp is a bank holding company. The Bank operates through its subsidiary KeyBank National Association which is engaged in providing banking services. Through KeyBank and other subsidiaries the Bank provides a range of retail and commercial banking commercial leasing investment management consumer finance commercial mortgage servicing and special servicing and investment banking products and services. The Bank provides these services to individual corporate and institutional clients. The Bank operates in two segments: Key Community Bank which serves individuals and small to mid-sized businesses by offering a variety of deposit investment lending credit card and personalized wealth management products and business advisory services and Key Corporate Bank is a full-service corporate and investment bank focused on serving the needs of middle market clients in seven industry sectors: consumer energy healthcare industrial public sector real estate and technology.


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