KeyCorp (KEY) is Downgraded by Keefe Bruyette to Mkt Perform

KeyCorp (KEY) was Downgraded by Keefe Bruyette to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Keefe Bruyette advised their investors in a research report released on Nov 29, 2016.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Downgraded by Standpoint Research to ” Hold” on Nov 21, 2016. KeyCorp was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. KeyCorp was Downgraded by Susquehanna to ” Neutral” on Nov 9, 2016.

On the company’s financial health, KeyCorp reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.26. The company had revenue of $1337.00 million for the quarter, compared to analysts expectations of $1312.96 million. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

KeyCorp closed down -0.105 points or -0.60% at $17.33 with 61,34,531 shares getting traded on Friday. Post opening the session at $17.41, the shares hit an intraday low of $17.2 and an intraday high of $17.44 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 14, 2016, Amy G. Brady (Chief Information Officer) sold 9,457 shares at $15.64 per share price. According to the SEC, on May 23, 2016, Charles P Cooley (director) purchased 5,000 shares at $12.41 per share price. On May 18, 2016, Alexander M Cutler (director) purchased 15,000 shares at $11.86 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.

KeyCorp

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