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

KeyCorp (NYSE:KEY) had its price objective upped by stock analysts at Wells Fargo & Company from $20.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 14.82% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada boosted their target price 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Barclays lifted their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Stock Performance

NYSE:KEY opened at $19.16 on Friday. The firm’s fifty day moving average price is $17.23 and its 200 day moving average price is $15.80. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of 1,916.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24.

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

Insider Buying and Selling

In other KeyCorp news, 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 owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp 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 sale, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in KeyCorp by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after acquiring an additional 993,942 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of KeyCorp by 8.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after acquiring an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $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 valued at $176,631,000 after acquiring an additional 2,339,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in KeyCorp by 2.9% in 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. 79.69% of the stock is currently owned by hedge funds and other 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.