Stock Worth Watching: KeyCorp Can’t Be More Hot. Just Reaches 52-Week High

Stock Worth Watching: KeyCorp Can't Be More Hot. Just Reaches 52 Week High

The stock of KeyCorp (NYSE:KEY) hit a new 52-week high and has $21.03 target or 23.00% above today’s $17.10 share price. The 8 months bullish chart indicates low risk for the $18.50B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $21.03 price target is reached, the company will be worth $4.26 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 6.35 million shares traded hands. KeyCorp (NYSE:KEY) has risen 41.99% since April 19, 2016 and is uptrending. It has outperformed by 38.13% the S&P500.

KeyCorp (NYSE:KEY) Ratings Coverage

Out of 25 analysts covering Keycorp (NYSE:KEY), 16 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 64% are positive. Keycorp has been the topic of 52 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Rafferty on Tuesday, October 25. As per Friday, January 22, the company rating was upgraded by Stephens. The stock of KeyCorp (NYSE:KEY) earned “Buy” rating by Nomura on Wednesday, January 6. As per Tuesday, April 12, the company rating was reinitiated by Morgan Stanley. On Monday, July 11 the stock rating was upgraded by FBR Capital to “Outperform”. KBW upgraded the stock to “Market Perform” rating in Wednesday, August 12 report. The rating was downgraded by Susquehanna to “Neutral” on Wednesday, November 9. The company was maintained on Wednesday, August 12 by Deutsche Bank. BMO Capital Markets initiated the shares of KEY in a report on Wednesday, September 9 with “Outperform” rating. As per Monday, November 2, the company rating was maintained by Macquarie Research.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 2.05 in Q2 2016. Its up 0.96, from 1.09 in 2016Q1. The ratio is positive, as 39 funds sold all KeyCorp shares owned while 186 reduced positions. 56 funds bought stakes while 189 increased positions. They now own 702.32 million shares or 2.46% more from 685.48 million shares in 2016Q1.
Nationwide Fund holds 234,247 shares or 0.01% of its portfolio. Lombard Odier Asset Management (Europe) holds 0.01% of its portfolio in KeyCorp (NYSE:KEY) for 14,997 shares. Moreover, State Street has 0.05% invested in KeyCorp (NYSE:KEY) for 43.99 million shares. Brick & Kyle Associates has 0.02% invested in the company for 1,750 shares. Credit Agricole S A holds 2.05M shares or 0.09% of its portfolio. Hm Payson & has 0.01% invested in the company for 15,979 shares. Jpmorgan Chase And Communication holds 37.94 million shares or 0.1% of its portfolio. Assetmark Incorporated has invested 0% of its portfolio in KeyCorp (NYSE:KEY). Prudential Financial last reported 2.91M shares in the company. Livforsakringsbolaget Skandia Omsesidigt has 93,313 shares for 0.05% of their US portfolio. Barrow Hanley Mewhinney And Strauss Ltd Liability Corp holds 10.37 million shares or 0.17% of its portfolio. Cornerstone Management Ltd Limited Liability Company has 0.05% invested in the company for 610,865 shares. Manchester Capital Mngmt Limited Liability Co holds 0.01% or 5,279 shares in its portfolio. Ridgeworth Ltd Company owns 2.14 million shares or 0.21% of their US portfolio. Old Mutual Glob Investors (Uk) Limited last reported 492,738 shares in the company.

Insider Transactions: Since November 10, 2016, the stock had 0 insider buys, and 1 sale for $147,907 net activity. $147,907 worth of KeyCorp (NYSE:KEY) was sold by Brady Amy G. on Thursday, November 10.

More important recent KeyCorp (NYSE:KEY) news were published by: Wsj.com which released: “KeyCorp Revenue Climbs on First Niagara Deal” on October 25, 2016, also Nasdaq.com published article titled: “Agree To Purchase KeyCorp At $13, Earn 8.8% Using Options”, Prnewswire.com published: “KeyCorp Reports 2016 Dodd-Frank Act Mid-Cycle Stress Test Results” on November 02, 2016. More interesting news about KeyCorp (NYSE:KEY) was released by: Bizjournals.com and their article: “KeyCorp leaders must decide what to do with 3 Albany offices” with publication date: October 27, 2016.

KEY Company Profile

KeyCorp, incorporated on December 31, 1958, is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company 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 to individual, corporate and institutional clients. The Company’s divisions include Key Community Bank and Key Corporate Bank. The Company’s Other Segments consist of corporate treasury, principal investing unit and various exit portfolios.

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