KeyCorp (NYSE:KEY – Free Report) had its target price increased by JPMorgan Chase & Co. from $23.00 to $23.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.
Other equities analysts have also issued research reports about the company. Argus raised KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings downgraded KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. TD Cowen initiated coverage on shares of KeyCorp in a research note on Thursday, October 8th. They issued a “buy” rating and a $23.00 price objective on the stock. Citigroup reissued a “neutral” rating on shares of KeyCorp in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group cut their price target on KeyCorp from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.
KeyCorp Trading Down 0.0%
Shares of KEY opened at $21.11 on Friday. The stock has a fifty day moving average price of $20.94 and a two-hundred day moving average price of $21.54. KeyCorp has a 52-week low of $16.91 and a 52-week high of $24.07. The company has a market cap of $22.53 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.75 and a beta of 1.07. 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 (NYSE:KEY – Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts predict that KeyCorp will post 1.88 EPS for the current fiscal year.
Insider Buying and Selling at KeyCorp
In related news, insider Andrew Paine, III sold 39,130 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares in the company, valued at approximately $4,061,305.20. This trade represents a 16.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.
Institutional Trading of KeyCorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia purchased a new stake in shares of KeyCorp in the second quarter worth about $3,636,436,000. BlackRock Inc. purchased a new position in KeyCorp during the second quarter valued at approximately $2,039,113,000. Deutsche Bank AG purchased a new stake in shares of KeyCorp during the 2nd quarter worth approximately $380,244,000. North Reef Capital Management LP purchased a new stake in KeyCorp in the first quarter worth $253,632,000. Finally, Legal & General Group Plc purchased a new stake in shares of KeyCorp during the 2nd quarter worth $142,169,000. Institutional investors 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.
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