KeyCorp (NYSE:KEY) Price Target Increased to $20.00 by Analysts at Evercore ISI

KeyCorp (NYSE:KEY) had its target price boosted by Evercore ISI from $18.50 to $20.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 22.17% from the company’s current price.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Wedbush boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.91.

KeyCorp Trading Up 1.0 %

Shares of KEY stock opened at $16.37 on Wednesday. KeyCorp has a twelve month low of $9.50 and a twelve month high of $17.39. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 0.93 and a beta of 1.25. The firm has a 50-day moving average price of $16.17 and a 200 day moving average price of $15.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 $759,665.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in KeyCorp by 15.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 123,736 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 16,625 shares during the last quarter. TD Asset Management Inc lifted its position in shares of KeyCorp by 7.8% during the fourth quarter. TD Asset Management Inc now owns 385,341 shares of the financial services provider’s stock worth $5,549,000 after purchasing an additional 27,815 shares during the last quarter. Stifel Financial Corp grew its stake in KeyCorp by 89.2% in the fourth quarter. Stifel Financial Corp now owns 596,459 shares of the financial services provider’s stock worth $8,589,000 after purchasing an additional 281,234 shares in the last quarter. KBC Group NV increased its holdings in KeyCorp by 71.1% in the fourth quarter. KBC Group NV now owns 78,896 shares of the financial services provider’s stock valued at $1,136,000 after buying an additional 32,785 shares during the last quarter. Finally, NEOS Investment Management LLC acquired a new stake in KeyCorp during the fourth quarter valued at approximately $191,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.