KeyCorp (NYSE:KEY) PT Raised to $20.00

KeyCorp (NYSE:KEY) had its price objective boosted by equities researchers at Evercore ISI from $18.50 to $20.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price suggests a potential upside of 22.17% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Citigroup increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Morgan Stanley raised their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Monday, July 8th. Wedbush lifted 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. Finally, Jefferies Financial Group boosted their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.91.

KeyCorp Stock Performance

Shares of KEY stock opened at $16.37 on Wednesday. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 0.93 and a beta of 1.25. The stock’s 50-day moving average is $16.17 and its two-hundred day moving average is $15.21.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in KeyCorp in the first quarter valued at $25,000. Crewe Advisors LLC acquired a new stake in KeyCorp in the 1st quarter valued at about $32,000. Quarry LP acquired a new stake in KeyCorp in the 4th quarter valued at about $38,000. Fidelis Capital Partners LLC purchased a new position in KeyCorp during the 1st quarter valued at about $39,000. Finally, Centerpoint Advisors LLC raised its position in KeyCorp by 127.7% during the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,107 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

About KeyCorp

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.