KeyCorp (NYSE:KEY) Price Target Raised to $18.00

KeyCorp (NYSE:KEY) had its price objective raised by investment analysts at Wells Fargo & Company from $16.00 to $18.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 14.58% from the company’s current price.

A number of other brokerages have also recently weighed in on KEY. Raymond James started coverage on shares of KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. Royal Bank of Canada boosted their target price on shares of KeyCorp from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley boosted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler upped their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, Jefferies Financial Group raised shares of KeyCorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $17.00 in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

KeyCorp Price Performance

Shares of KEY traded up $0.07 during mid-day trading on Thursday, hitting $15.71. The company’s stock had a trading volume of 3,423,292 shares, compared to its average volume of 16,866,855. The firm has a 50-day moving average price of $14.40 and a 200 day moving average price of $12.90. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 17.64 and a beta of 1.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.83.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter in the previous year, the company posted $0.38 EPS. On average, research analysts predict that KeyCorp will post 1.18 EPS for the current fiscal year.

Insider Transactions at KeyCorp

In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new stake in shares of KeyCorp during the 4th quarter valued at about $272,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of KeyCorp during the 4th quarter valued at about $6,277,000. Wellington Management Group LLP boosted its position in shares of KeyCorp by 104.4% during the 4th quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock valued at $5,867,000 after acquiring an additional 208,077 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in shares of KeyCorp during the 4th quarter valued at about $157,000. Finally, Quarry LP purchased a new position in KeyCorp in the 4th quarter worth approximately $38,000. Institutional investors 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.