KeyCorp (NYSE:KEY) Price Target Raised to $27.00

KeyCorp (NYSE:KEY) had its price objective raised by DA Davidson from $26.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

KEY has been the subject of a number of other research reports. UBS Group lowered their target price on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 5th. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $24.50 to $23.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Wall Street Zen cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Wells Fargo & Company increased their price target on KeyCorp from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Argus upgraded KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.22.

KeyCorp Stock Down 0.6%

KeyCorp stock opened at $21.07 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a 52-week low of $16.91 and a 52-week high of $24.07. The firm has a 50 day moving average price of $21.06 and a two-hundred day moving average price of $21.84. The firm has a market cap of $22.49 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.76 and a beta of 1.08.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that KeyCorp will post 1.86 EPS for the current year.

Institutional Trading of KeyCorp

Several large investors have recently modified their holdings of the stock. North Reef Capital Management LP acquired a new position in shares of KeyCorp during the first quarter worth approximately $253,632,000. Weiss Asset Management LP bought a new position in shares of KeyCorp in the 1st quarter worth $7,040,000. Commerce Bank acquired a new stake in KeyCorp in the 2nd quarter valued at $2,657,000. Bank of Nova Scotia grew its position in KeyCorp by 0.6% in the 1st quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock valued at $3,268,076,000 after purchasing an additional 900,951 shares during the period. Finally, Royal Bank of Canada grew its position in KeyCorp by 10.0% in the 1st quarter. Royal Bank of Canada now owns 5,140,288 shares of the financial services provider’s stock valued at $103,062,000 after purchasing an additional 466,273 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.