KeyCorp (NYSE:KEY) Receives $15.71 Average PT from Brokerages

Shares of KeyCorp (NYSE:KEY) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $15.71.

A number of brokerages have recently commented on KEY. Wedbush lowered their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. JPMorgan Chase & Co. raised their price target on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wells Fargo & Company raised their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Royal Bank of Canada raised their price target on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Evercore ISI raised their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th.

Insiders Place Their Bets

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of KeyCorp by 35.5% during the 3rd quarter. CWM LLC now owns 50,138 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 13,144 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of KeyCorp by 260.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 10,014 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 7,236 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of KeyCorp by 17.1% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 13,909 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 2,035 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of KeyCorp during the 3rd quarter worth approximately $775,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of KeyCorp during the 3rd quarter worth approximately $346,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $14.70 on Friday. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The business’s fifty day moving average price is $14.76 and its two-hundred day moving average price is $13.54. The firm has a market capitalization of $13.63 billion, a PE ratio of 18.61 and a beta of 1.29.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business earned $0.44 earnings per share. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. On average, research analysts expect that KeyCorp will post 1.15 EPS for the current year.

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.