KeyCorp (NYSE:KEY) PT Raised to $16.00

KeyCorp (NYSE:KEY) had its price target hoisted by Argus from $15.00 to $16.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

KEY has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Barclays decreased their target price on KeyCorp from $17.00 to $16.00 and set an equal weight rating for the company in a report on Friday, January 19th. Royal Bank of Canada boosted their target price on KeyCorp from $15.00 to $16.00 and gave the stock an outperform rating in a report on Friday. Evercore ISI boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Finally, Morgan Stanley boosted their target price on KeyCorp from $12.00 to $16.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. 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 stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of Moderate Buy and a consensus price target of $15.71.

KeyCorp Stock Up 0.1 %

KEY opened at $14.64 on Friday. 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 stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 18.53 and a beta of 1.29. The business has a 50-day moving average of $14.70 and a two-hundred day moving average of $13.46. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. On average, research analysts expect that KeyCorp will post 1.17 earnings per share for the current year.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the transaction, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new position in KeyCorp during the 4th quarter worth $26,000. Sound Income Strategies LLC grew its stake in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the last quarter. First United Bank & Trust bought a new position in shares of KeyCorp in the fourth quarter worth $29,000. Baldwin Brothers LLC MA bought a new position in shares of KeyCorp in the fourth quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of KeyCorp in the third quarter worth $28,000. 79.69% of the stock is currently owned by institutional investors.

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.