Why Standpoint Research Gives KeyCorp (NYSE:KEY) $15.00 Price Target
Standpoint Research analyst began coverage with a “Buy” rating on KeyCorp (NYSE:KEY) today and set a price target of $15.00. The company’s shares opened today at 12.42.
Out of 10 analysts covering Keycorp (NYSE:KEY), 5 rate it “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. $17 is the highest target while $13 is the lowest. The $15.50 average target is 24.70% above today’s ($12.43) stock price. Keycorp was the topic in 19 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Standpoint Research initiated the stock on October 30 with “Buy” rating. BMO Capital Markets initiated the shares of KEY in a report on September 9 with “Outperform” rating. Finally, Bernstein upgraded the stock to “Outperform” rating in an August 26 report.
The stock decreased 7.10% or $0.95 on October 30, hitting $12.43. About 80.37 million shares traded hands or 478.20% up from the average. KeyCorp (NYSE:KEY) has declined 12.54% since March 30, 2015 and is downtrending. It has underperformed by 12.21% the S&P500.
The institutional sentiment decreased to 0.91 in Q2 2015. Its down 0.12, from 1.03 in 2015Q1. The ratio worsened, as 36 funds sold all KeyCorp shares owned while 214 reduced positions. 60 funds bought stakes while 168 increased positions. They now own 663.81 million shares or 1.68% more from 652.86 million shares in 2015Q1.
Elizabeth Park Capital Advisors Ltd. holds 5.02% of its portfolio in KeyCorp for 1.02 million shares. Brevan Howard Capital Management Lp owns 921,540 shares or 4.27% of their US portfolio. Moreover, Ramsey Asset Management has 2.78% invested in the company for 144,046 shares. The Ontario - Canada-based Barometer Capital Management Inc. has invested 2.66% in the stock. Albion Financial Group Ut, a Utah-based fund reported 1.06 million shares.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association, which is engaged in providing banking services. The company has a market cap of $10.37 billion. 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 services and products. It has 11.58 P/E ratio. The Bank provides these services to individual, corporate and institutional clients.
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.
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