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

KeyCorp (NYSE:KEY) had its price objective lifted by Evercore ISI from $18.50 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target points to a potential upside of 23.08% from the stock’s current price.

KEY has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.91.

KeyCorp Trading Up 0.1 %

NYSE:KEY traded up $0.01 during trading hours on Wednesday, reaching $16.25. The company’s stock had a trading volume of 1,403,623 shares, compared to its average volume of 14,622,729. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 0.93 and a beta of 1.25. The firm has a 50-day simple moving average of $16.16 and a 200-day simple moving average of $15.19. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85.

KeyCorp (NYSE:KEY) last issued its earnings results 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. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Research analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently made changes to their positions in the company. Freestone Capital Holdings LLC bought a new stake in shares of KeyCorp in the 1st quarter worth about $561,000. Assenagon Asset Management S.A. increased its position in KeyCorp by 87.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after purchasing an additional 610,688 shares during the period. Commerce Bank increased its position in KeyCorp by 399.7% during the 1st quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after purchasing an additional 364,850 shares during the period. Cibc World Markets Corp increased its position in KeyCorp by 44.4% during the 4th quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock valued at $3,127,000 after purchasing an additional 66,806 shares during the period. Finally, Seven Eight Capital LP purchased a new position in KeyCorp during the 4th quarter valued at about $801,000. 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.