KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $19.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently 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 analysts also recently commented on KEY. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Evercore ISI upped their price target on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wedbush increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.79.

KeyCorp Stock Down 0.6 %

KEY traded down $0.12 during trading on Wednesday, reaching $18.69. 2,005,637 shares of the stock were exchanged, compared to its average volume of 13,583,898. The stock has a market cap of $18.53 billion, a P/E ratio of 1,861.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a twelve month low of $12.76 and a twelve month high of $20.04. The stock’s 50 day moving average price is $17.92 and its two-hundred day moving average price is $16.17.

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

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $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 currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after acquiring an additional 993,942 shares during the period. Diamond Hill Capital Management Inc. boosted its position in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after purchasing an additional 2,213,872 shares during the period. Earnest Partners LLC boosted its position in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after acquiring an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP raised its position in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after purchasing an additional 222,187 shares in the last quarter. 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.