KeyCorp (NYSE:KEY) PT Raised to $18.00 at Wedbush

KeyCorp (NYSE:KEY) had its price objective lifted by analysts at Wedbush from $17.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s target price would indicate a potential upside of 8.83% from the company’s previous close.

A number of other research analysts have also recently commented on KEY. Jefferies Financial Group raised their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. DA Davidson raised their target price on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $16.71.

KeyCorp Stock Performance

KeyCorp stock traded down $0.27 during mid-day trading on Tuesday, reaching $16.54. The company had a trading volume of 5,262,632 shares, compared to its average volume of 14,846,665. The company has a 50 day moving average of $16.08 and a 200-day moving average of $15.11. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 0.90 and a beta of 1.25. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $0.27 EPS. KeyCorp’s revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board increased its holdings in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after acquiring an additional 1,748,633 shares during the period. Diamond Hill Capital Management Inc. grew its position in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares in the last quarter. Earnest Partners LLC raised its position in KeyCorp by 23.2% during the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after buying an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares during the period. Finally, Ceredex Value Advisors LLC grew its holdings in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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.