KeyCorp (NYSE:KEY) Receives $17.22 Average Target Price from Brokerages

Shares of KeyCorp (NYSE:KEY) have earned an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.50.

KEY has been the topic of several research analyst reports. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Royal Bank of Canada upped their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. dropped their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Evercore ISI increased their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th.

KeyCorp Price Performance

KEY opened at $17.35 on Friday. 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 stock has a market capitalization of $16.36 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The stock’s 50 day moving average price is $16.61 and its 200-day moving average price is $15.35. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.94.

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

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’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 value of $162,100.00. Following the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp in the first quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its holdings in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the last quarter. Crewe Advisors LLC bought a new stake in KeyCorp in the 1st quarter worth approximately $32,000. Quarry LP purchased a new stake in KeyCorp during the 4th quarter valued at $38,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of KeyCorp during the 1st quarter valued at $39,000. Hedge funds and other 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.