Evercore ISI Raises KeyCorp (NYSE:KEY) Price Target to $20.00

KeyCorp (NYSE:KEY) had its target price lifted by Evercore ISI from $18.50 to $20.00 in a report released on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

KEY has been the topic of a number of other research reports. Royal Bank of Canada restated an outperform rating and issued a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their target price on KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group lifted their target price on KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research report on Monday, August 19th. Citigroup lifted their target price on KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Finally, DA Davidson lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a buy rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $16.91.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $16.78 on Wednesday. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 0.90 and a beta of 1.25. 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 business’s 50 day moving average price is $16.18 and its 200 day moving average price is $15.22.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts predict that KeyCorp will post 1.1 EPS for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.89%. KeyCorp’s payout ratio is 103.80%.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its stake in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after acquiring an additional 1,748,633 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after acquiring an additional 2,213,872 shares during the last quarter. Earnest Partners LLC raised its stake in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after acquiring an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after acquiring an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during 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.