KeyCorp (NYSE:KEY) Sets New 1-Year High – Here’s Why

KeyCorp (NYSE:KEY) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.86 and last traded at $18.85, with a volume of 246325 shares trading hands. The stock had previously closed at $17.26.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada raised 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. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Barclays raised their price objective on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup set a $19.00 target price on KeyCorp in a report on Thursday, October 17th. Finally, Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.79.

KeyCorp Trading Up 14.2 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $18.59 billion, a PE ratio of 1,952.00, a P/E/G ratio of 0.94 and a beta of 1.24. The business has a fifty day moving average price of $16.81 and a 200 day moving average price of $15.56.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of KEY. Freestone Capital Holdings LLC acquired a new stake in shares of KeyCorp during the first quarter valued at about $561,000. Assenagon Asset Management S.A. grew its stake in KeyCorp by 87.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after purchasing an additional 610,688 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the last quarter. Commerce Bank increased its holdings in KeyCorp by 399.7% during the 1st quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after purchasing an additional 364,850 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of KeyCorp in the 2nd quarter valued at approximately $981,000. 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.