KeyCorp (NYSE:KEY) Receives $18.97 Consensus Price Target from Analysts

KeyCorp (NYSE:KEY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.97.

A number of research analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. Evercore ISI set a $17.00 price target on shares of KeyCorp in a report on Monday. Royal Bank of Canada restated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st.

KeyCorp Stock Performance

NYSE KEY traded up $0.50 during trading on Wednesday, reaching $15.49. The company's stock had a trading volume of 12,415,240 shares, compared to its average volume of 12,817,238. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of -51.63, a P/E/G ratio of 0.65 and a beta of 1.06. The business's fifty day moving average price is $15.21 and its 200-day moving average price is $16.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

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

KeyCorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mohit Ramani purchased 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 60,180 shares of company stock worth $1,032,525 in the last quarter. 0.52% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Several large investors have recently made changes to their positions in KEY. Vanguard Group Inc. raised its stake in KeyCorp by 7.1% during the 4th 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 last quarter. FMR LLC lifted its holdings in KeyCorp by 7.1% during the 4th 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. Price T Rowe Associates Inc. MD grew its holdings in shares of KeyCorp by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock worth $622,229,000 after purchasing an additional 1,645,296 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in KeyCorp by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after purchasing an additional 1,452,179 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in KeyCorp by 4.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock valued at $465,929,000 after acquiring an additional 1,062,615 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.