KeyCorp (NYSE:KEY) Price Target Raised to $20.00

KeyCorp (NYSE:KEY - Get Free Report) had its price target increased by equities researchers at Wells Fargo & Company from $18.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target points to a potential upside of 9.23% from the company's previous close.

A number of other equities research analysts also recently issued reports on KEY. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered 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. Cowen began coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Jefferies Financial Group began coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target on the stock. Finally, UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and lifted their price target for the company from $16.00 to $22.00 in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.18.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $18.31 on Tuesday. The company has a market cap of $20.07 billion, a PE ratio of -107.71, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. The company has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $16.33.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director owned 37,177 shares in the company, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Ramani purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the purchase, the insider owned 10,000 shares of the company's stock, valued at approximately $137,500. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company's stock.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in KEY. Vanguard Group Inc. increased its stake in KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in KeyCorp by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock valued at $814,756,000 after purchasing an additional 14,651,281 shares during the last quarter. FMR LLC increased its stake in KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in KeyCorp by 12.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider's stock valued at $487,882,000 after purchasing an additional 3,327,972 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in KeyCorp by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock valued at $399,169,000 after purchasing an additional 1,647,332 shares during the last quarter. 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.

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