Barclays Raises KeyCorp (NYSE:KEY) Price Target to $19.00

KeyCorp (NYSE:KEY) had its price objective raised by research analysts at Barclays from $16.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 9.51% from the stock’s current price.

Other equities analysts have also issued reports about the company. DA Davidson raised their target price on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Evercore ISI lifted 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. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.50.

KeyCorp Price Performance

NYSE KEY opened at $17.35 on Friday. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.94. The stock’s 50-day moving average is $16.61 and its two-hundred day moving average is $15.35. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $16.36 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp 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 directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC acquired a new stake in KeyCorp during the first quarter valued at approximately $561,000. Assenagon Asset Management S.A. boosted its holdings in KeyCorp by 87.5% during the second 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. Commerce Bank boosted its holdings in KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after purchasing an additional 364,850 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in KeyCorp during the second quarter valued at approximately $981,000. Finally, Cetera Investment Advisers boosted its holdings in KeyCorp by 274.4% during the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after purchasing an additional 243,437 shares in 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.