KeyCorp (NYSE:KEY) registered a 2.37% increase, still its new closing price is 88.30% up from the company’s 1 year high of 18.77.It posted -1.89% losses in previous 5 sessions and is now the subject of 14 analysts who together assign a hold rating on stock. 2 of Wall Street analysts have an underperform rating; the 0 sells versus 4 buy or better ratings. The 29 stock analysts following this company have an average price target at $19.65, with individual PT in the $15.00-$22.00 range. The shares moved at $18.13, implying that brokerage firms see shares gaining about 64.21% in twelve months time.
KeyCorp (KEY) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a -0.77% fall year to date. A Chief Information Officer at KeyCorp (KEY) offloaded shares in a transaction closed on Thursday November 10, 2016. Brady Amy G. sold 9,457 shares in the company at $15.64 each and collected $147,001 in proceeds. Brady Amy G. now owns 42,827 shares in the company after this transaction. A Co-Head Corporate Bank in the company, Paine Andrew J III, disclosed a transaction on Tuesday November 01, 2016 that ended up paying $6,000 from the purchase of 445 shares at $14.06 per share.
KeyCorp (NYSE:KEY) Upcoming Results on Tap
KeyCorp will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.32 in that period. Sales during the quarter are predicted to arrive at $1.42 billion.
Earnings surprise history: Last quarter, the company posted approximately $1.34 billion in revenue and EPS of $0.30. The mean forecast was for $1.29 billion and $0.26 a share, respectively. One quarter earlier, revenue for the stock was at $1.08 billion, with earnings at $0.27/share.
KeyCorp (KEY) Brokerage Update
KeyCorp (KEY) is in CLSA’s research list so their analyst rating change is noteworthy. These shares were downgraded to Underperform from Outperform by CLSA, according to news reported on Monday December 05, 2016.Another important research note was issued by Keefe Bruyette on Tuesday November 29, 2016.The firm downgraded KEY to Mkt Perform from Outperform. Over the last six months and over the last three months, the shares of KeyCorp (KEY), have changed 56.59% and 47.52%, respectively.
KeyCorp (NYSE:KEY) on January 12, 2017 announced that it has provided notice of its intention to redeem all outstanding shares of its Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series C (NYSE:KEY.H) (the “Preferred Stock”) on February 15, 2017.
There are 14 million shares of Preferred Stock, with an aggregate liquidation preference of $350 million, currently outstanding. The Preferred Stock, issued in connection with KeyCorp’s 2016 acquisition of First Niagara Financial Group, Inc. to replace First Niagara’s preferred stock, will be redeemed for cash at a redemption price of $25 per share. Since the redemption date for the Preferred Stock is also a dividend payment date, the redemption price of $25 per share does not include any declared and unpaid dividends. Declared dividends of $.539063 per share, which were declared by the Board of Directors, for the full current quarterly dividend period from and including November 15, 2016 to but excluding February 15, 2017 will be paid separately in the customary manner on February 15, 2017 to holders of record on February 3, 2017. All shares of the Preferred Stock are held in book-entry form through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Upon redemption, the Preferred Stock will no longer be outstanding and all rights with respect to such stock will cease and terminate, except the right to payment of the redemption price. Also upon redemption, the Preferred Stock will be delisted from trading on the New York Stock Exchange.
