KeyCorp (NYSE:KEY) PT Raised to $18.00

KeyCorp (NYSE:KEY) had its target price hoisted by Wedbush from $17.00 to $18.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective would suggest a potential upside of 8.83% from the stock’s current price.

A number of other brokerages also recently weighed in on KEY. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Citigroup boosted their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group increased their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

KeyCorp Trading Down 1.6 %

NYSE KEY traded down $0.27 during trading hours on Tuesday, hitting $16.54. The company’s stock had a trading volume of 5,262,632 shares, compared to its average volume of 14,846,665. KeyCorp has a twelve month low of $9.50 and a twelve month high of $17.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $15.59 billion, a P/E ratio of 20.99, a PEG ratio of 0.90 and a beta of 1.25. The stock has a fifty day moving average of $16.08 and a 200 day moving average of $15.11.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Pathway Financial Advisers LLC purchased a new stake in shares of KeyCorp during the first quarter worth about $25,000. Crewe Advisors LLC purchased a new position in KeyCorp in the 1st quarter worth $32,000. Quarry LP acquired a new stake in KeyCorp during the 4th quarter valued at approximately $38,000. Fidelis Capital Partners LLC purchased a new position in shares of KeyCorp during the 1st quarter valued at approximately $39,000. Finally, Centerpoint Advisors LLC raised its stake in shares of KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,107 shares during the period. Institutional investors own 79.69% of the company’s stock.

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.