KeyCorp (NYSE:KEY) Price Target Raised to $22.00

KeyCorp (NYSE:KEY) had its target price lifted by equities researchers at Wells Fargo & Company from $20.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.00% from the company’s previous close.

Several other brokerages have also recently issued reports on KEY. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Barclays boosted their target price on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group set a $19.00 price objective on shares of KeyCorp in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.03.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $19.13 on Friday. The company has a 50-day moving average price of $17.11 and a 200 day moving average price of $15.74. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00. The company has a market cap of $18.96 billion, a P/E ratio of 1,913.00, a PEG ratio of 1.05 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Research analysts predict that KeyCorp will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of KEY. Wolff Wiese Magana LLC raised its holdings in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of KeyCorp in the first quarter worth $25,000. American Capital Advisory LLC acquired a new stake in shares of KeyCorp in the third quarter worth $28,000. Larson Financial Group LLC raised its position in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in KeyCorp in the 1st quarter worth about $32,000. Institutional investors and hedge funds 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.