KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Wells Fargo & Company

KeyCorp (NYSE:KEY) had its price objective lifted by Wells Fargo & Company from $20.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on KEY. Evercore ISI upped their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, DA Davidson upped their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Stock Performance

KeyCorp stock opened at $19.23 on Friday. The firm has a 50-day moving average of $17.29 and a 200-day moving average of $15.85. The firm has a market cap of $19.06 billion, a P/E ratio of 1,923.00, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00.

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

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Several large investors have recently bought and sold shares of KEY. Financial Advocates Investment Management raised its stake in shares of KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares during the last quarter. HM Payson & Co. raised its position in KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after buying an additional 650 shares during the last quarter. Graypoint LLC boosted its holdings in shares of KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 675 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares during the period. Finally, Empirical Finance LLC lifted its position in KeyCorp by 2.2% during the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 705 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.