Morgan Stanley Upgrades KeyCorp to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on KeyCorp(NYSE:KEY). The shares have been rated Overweight. Previously, the analysts had a Equalweight rating on the shares. The rating by Morgan Stanley was issued on Jul 5, 2016.

KeyCorp (KEY) made into the market gainers list on Fridays trading session with the shares advancing 1.37% or 0.15 points. Due to strong positive momentum, the stock ended at $11.09, which is also near the day’s high of $11.29. The stock began the session at $11.17 and the volume stood at 1,41,07,496 shares. The 52-week high of the shares is $15.46 and the 52 week low is $9.88. The company has a current market capitalization of $9,342 M and it has 84,23,73,000 shares in outstanding.

KeyCorp(KEY) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.04B. Analysts had an estimated revenue of $1.04B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, Charles P Cooley (director) purchased 5,000 shares at $12.41 per share price.Also, 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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