Stephens Reaffirms Overweight Rating for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a report released on Wednesday,Benzinga reports. They presently have a $20.00 target price on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 14.98% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, November 7th. DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Evercore ISI lifted their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Trading Down 1.4 %

KeyCorp stock traded down $0.25 during midday trading on Wednesday, reaching $17.40. The stock had a trading volume of 4,770,711 shares, compared to its average volume of 13,215,313. The firm’s fifty day simple moving average is $18.13 and its two-hundred day simple moving average is $17.06. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 1,738.70, a PEG ratio of 0.69 and a beta of 1.27.

Insider Activity

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KEY. Mirae Asset Global Investments Co. Ltd. grew its position in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after purchasing an additional 85,052 shares during the period. Avanza Fonder AB bought a new position in KeyCorp during the fourth quarter valued at approximately $1,618,000. MBB Public Markets I LLC bought a new position in shares of KeyCorp in the second quarter worth approximately $981,000. Dai ichi Life Insurance Company Ltd bought a new stake in KeyCorp in the third quarter valued at $798,000. Finally, Prospector Partners LLC purchased a new position in KeyCorp during the third quarter valued at $9,630,000. 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.