KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Wells Fargo & Company

KeyCorp (NYSE:KEY) had its price objective raised by Wells Fargo & Company from $20.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on KEY. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Wedbush upped their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their price objective 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. Finally, DA Davidson lifted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Nine research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp Price Performance

KeyCorp stock opened at $19.16 on Friday. The stock’s 50 day moving average price is $17.23 and its two-hundred day moving average price is $15.82. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 1,916.00, a PEG ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, equities analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in shares of KeyCorp by 2.1% in the third quarter. M&T Bank Corp now owns 43,507 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 887 shares during the period. Geller Advisors LLC bought a new stake in KeyCorp during the 3rd quarter valued at $282,000. Nomura Asset Management Co. Ltd. lifted its position in shares of KeyCorp by 9.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,859 shares of the financial services provider’s stock worth $5,090,000 after acquiring an additional 25,656 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of KeyCorp by 60.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 194,629 shares of the financial services provider’s stock worth $3,260,000 after acquiring an additional 73,384 shares during the period. Finally, Orion Portfolio Solutions LLC grew its position in shares of KeyCorp by 7.2% in the third quarter. Orion Portfolio Solutions LLC now owns 55,927 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 3,764 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.