KeyCorp (NYSE:KEY) Price Target Raised to $21.00 at Barclays

KeyCorp (NYSE:KEY) had its target price upped by research analysts at Barclays from $19.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 19.86% from the stock’s previous close.

KEY has been the subject of a number of other research reports. Wells Fargo & Company upped 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. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average target price of $19.47.

KeyCorp Stock Up 1.3 %

Shares of KEY traded up $0.23 during trading hours on Monday, hitting $17.52. 3,445,263 shares of the company were exchanged, compared to its average volume of 6,406,684. The firm’s 50 day moving average is $18.28 and its 200-day moving average is $16.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 52 week low of $12.94 and a 52 week high of $20.04. The company has a market cap of $17.37 billion, a PE ratio of 1,752.00, a PEG ratio of 1.00 and a beta of 1.27.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. On average, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

Insider Activity

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The stock was 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 directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after acquiring an additional 993,942 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after purchasing an additional 2,213,872 shares during the period. Earnest Partners LLC raised its holdings in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 300,339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.