KeyCorp (NYSE:KEY) Price Target Raised to $22.00

KeyCorp (NYSE:KEY) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $19.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 17.71% from the company’s previous close.

Several other equities analysts have also recently issued reports on KEY. Wedbush boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Evercore ISI raised their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.79.

KeyCorp Stock Down 0.6 %

Shares of KEY traded down $0.12 during trading hours on Wednesday, reaching $18.69. The stock had a trading volume of 2,005,637 shares, compared to its average volume of 13,583,898. KeyCorp has a 12 month low of $12.76 and a 12 month high of $20.04. The firm has a 50-day simple moving average of $17.92 and a 200 day simple moving average of $16.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 1,861.00, a P/E/G ratio of 1.05 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of KEY. Franklin Resources Inc. grew its stake in KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after purchasing an additional 319,155 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in KeyCorp during the third quarter valued at approximately $395,000. Sanctuary Advisors LLC boosted its position in KeyCorp by 23.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 71,218 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 13,701 shares in the last quarter. Unigestion Holding SA acquired a new stake in KeyCorp during the 3rd quarter worth about $558,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in KeyCorp by 1,974.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,541,680 shares of the financial services provider’s stock worth $25,823,000 after purchasing an additional 1,467,351 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

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.