KeyCorp (NYSE:KEY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

KeyCorp (NYSE:KEY) had its target price hoisted by investment analysts at Wells Fargo & Company from $20.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 15.00% from the company’s current price.

Several other brokerages have also recently weighed in on KEY. The Goldman Sachs Group set a $19.00 price target on KeyCorp in a research note on Thursday, October 17th. Evercore ISI increased their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Trading Up 0.4 %

KEY opened at $19.13 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $18.96 billion, a P/E ratio of 1,913.00, a P/E/G ratio of 1.05 and a beta of 1.24. KeyCorp has a 12 month low of $11.64 and a 12 month high of $20.00. The firm’s fifty day simple moving average is $17.11 and its 200 day simple moving average is $15.74.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, research analysts anticipate that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently modified their holdings of KEY. Azora Capital LP purchased a new position in KeyCorp in the third quarter valued at $92,413,000. Assenagon Asset Management S.A. raised its stake in KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in KeyCorp by 112.4% in the second 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 during the last quarter. Thrivent Financial for Lutherans boosted its stake in KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after acquiring an additional 3,042,060 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares during the last quarter. 79.69% of the stock is 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.