Barclays Has Lowered Expectations for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY - Free Report) had its target price decreased by Barclays from $21.00 to $20.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider's stock.

Several other analysts have also commented on KEY. DA Davidson dropped their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Citigroup reiterated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, KeyCorp presently has an average rating of "Moderate Buy" and an average price target of $19.15.

KeyCorp Stock Performance

KEY traded down $0.15 during trading on Monday, reaching $14.72. 8,052,209 shares of the company's stock were exchanged, compared to its average volume of 12,862,957. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company's fifty day simple moving average is $15.42 and its 200-day simple moving average is $17.06. The stock has a market capitalization of $16.13 billion, a P/E ratio of -49.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the company posted $0.20 earnings per share. As a group, research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its board has authorized a stock buyback program on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 60,180 shares of company stock worth $1,032,525. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KEY. Vanguard Group Inc. raised its position in KeyCorp by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares during the period. FMR LLC increased its position in shares of KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in KeyCorp by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after buying an additional 1,645,296 shares during the period. Charles Schwab Investment Management Inc. lifted its position in KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after buying an additional 1,452,179 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in KeyCorp by 4.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after buying an additional 1,062,615 shares during the period. 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.