Evercore ISI Increases KeyCorp (NYSE:KEY) Price Target to $18.00

KeyCorp (NYSE:KEY) had its price target boosted by research analysts at Evercore ISI from $17.00 to $18.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price indicates a potential upside of 14.58% from the stock’s previous close.

KEY has been the subject of several other reports. Barclays lowered their price objective on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. Jefferies Financial Group raised KeyCorp from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $17.00 in a report on Tuesday, January 9th. Royal Bank of Canada increased their target price on shares of KeyCorp from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. The Goldman Sachs Group raised their price objective on shares of KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

KeyCorp Price Performance

Shares of NYSE:KEY traded up $0.07 during midday trading on Thursday, hitting $15.71. The company had a trading volume of 4,084,245 shares, compared to its average volume of 16,874,979. KeyCorp has a twelve month low of $8.53 and a twelve month high of $15.83. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 17.64 and a beta of 1.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $12.90.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period last year, the company earned $0.38 EPS. On average, research analysts predict that KeyCorp will post 1.18 earnings per share for the current year.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the SEC, which is available through this link. In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Barclays PLC grew its stake in KeyCorp by 78.1% in the 2nd quarter. Barclays PLC now owns 2,380,504 shares of the financial services provider’s stock valued at $21,995,000 after buying an additional 1,044,148 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock valued at $248,844,000 after purchasing an additional 3,216,584 shares during the last quarter. Rheos Capital Works Inc. bought a new position in shares of KeyCorp in the third quarter worth about $5,380,000. American Century Companies Inc. lifted its position in shares of KeyCorp by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 640,787 shares of the financial services provider’s stock worth $6,895,000 after purchasing an additional 78,773 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in KeyCorp during the 4th quarter valued at approximately $6,186,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.