PiperJaffray Downgrades KeyCorp to Neutral

Brokerage firm PiperJaffray Downgrades its rating on KeyCorp(NYSE:KEY). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by PiperJaffray was issued on Aug 29, 2016.

In a different note, On Aug 22, 2016, Citigroup said it Maintains its rating on KeyCorp. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 27, 2016, Jefferies said it Maintains its rating on KeyCorp. In the research note, the firm Lowers the price-target to $14.50 per share. The shares have been rated ‘Buy’ by the firm. On Jul 27, 2016, JP Morgan said it Maintains its rating on KeyCorp. In the research note, the firm Lowers the price-target to $14.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 11, 2016, FBR Capital said it Upgrades its rating on KeyCorp. The shares have been rated ‘Outperform’ by the firm. On Jul 5, 2016, Morgan Stanley said it Upgrades its rating on KeyCorp. The shares have been rated ‘Overweight’ by the firm.

KeyCorp (KEY) shares turned negative on Thursdays trading session with the shares closing down -0.12 points or -0.96% at a volume of 1,31,30,095. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.64. The peak price level was also seen at $12.64 while the days lowest was $12.3. Finally the shares closed at $12.44. The 52-week high of the shares is $14.01 while the 52-week low is $9.88. According to the latest information available, the market cap of the company is $13,462 M.

KeyCorp(KEY) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.08B. Analysts had an estimated revenue of $1.09B. Earnings per share were $0.27. Analysts had estimated an EPS of $0.27.

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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