KeyCorp (KEY) is Downgraded by Standpoint Research to Hold

KeyCorp (KEY) was Downgraded by Standpoint Research to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Standpoint Research advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. KeyCorp was Downgraded by Susquehanna to ” Neutral” on Nov 9, 2016. KeyCorp was Downgraded by Citigroup to ” Neutral” on Nov 8, 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 opened for trading at $17.05 and hit $17.1 on the upside on Monday, eventually ending the session at $17.01, with a gain of 0.06% or 0.01 points. The heightened volatility saw the trading volume jump to 1,64,80,732 shares. Company has a market cap of $18,383 M.

Investors should note that on Nov 17, 2016, KeyCorp announced a cash dividend of $0.0850. The company’s management has announced Nov 25, 2016 as the ex-dividend date and fixed the record date on Nov 29, 2016. The payable date has been fixed on Dec 15, 2016.

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.

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