KeyCorp (NYSE:KEY) Hits New 1-Year High – Time to Buy?

Shares of KeyCorp (NYSE:KEY) hit a new 52-week high on Wednesday . The stock traded as high as $18.86 and last traded at $18.85, with a volume of 246325 shares. The stock had previously closed at $17.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. UBS Group raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $17.79.

KeyCorp Trading Up 14.2 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 1,952.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. The business has a fifty day moving average of $16.81 and a 200-day moving average of $15.56.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s 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 directly owns 46,864 shares in the company, valued at $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently bought and sold shares of the business. Financial Advocates Investment Management lifted its position 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 in the last quarter. HM Payson & Co. increased its stake in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares during the period. Graypoint LLC lifted its position in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after buying an additional 675 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in shares of KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 724 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.