KeyCorp (NYSE:KEY) PT Raised to $18.00 at Evercore ISI

KeyCorp (NYSE:KEY) had its price objective upped by Evercore ISI from $17.00 to $18.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective points to a potential upside of 14.58% from the company’s previous close.

Other analysts also recently issued research reports about the company. Piper Sandler lifted their target price on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley lifted their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Raymond James assumed coverage on shares of KeyCorp in a research report on Monday, January 8th. They issued a “market perform” rating on the stock. Wells Fargo & Company increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Jefferies Financial Group raised KeyCorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $17.00 in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

KeyCorp Price Performance

NYSE:KEY traded up $0.07 during trading hours on Thursday, hitting $15.71. 4,084,245 shares of the stock traded hands, compared to its average volume of 16,874,979. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 17.64 and a beta of 1.27. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.83. The stock has a 50 day moving average price of $14.40 and a 200 day moving average price of $12.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter in the prior year, the firm posted $0.38 EPS. Sell-side analysts forecast that KeyCorp will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Vanguard Group Inc. raised its stake in KeyCorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock worth $2,488,691,000 after buying an additional 1,278,193 shares in the last quarter. BlackRock Inc. raised its position in shares of KeyCorp by 4.7% in the 2nd quarter. BlackRock Inc. now owns 93,937,195 shares of the financial services provider’s stock worth $867,980,000 after acquiring an additional 4,177,314 shares in the last quarter. State Street Corp lifted its stake in shares of KeyCorp by 2.6% during the 2nd quarter. State Street Corp now owns 47,193,025 shares of the financial services provider’s stock worth $436,064,000 after purchasing an additional 1,194,413 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in KeyCorp by 3.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 32,342,547 shares of the financial services provider’s stock valued at $348,006,000 after purchasing an additional 993,215 shares in the last quarter. Finally, FMR LLC grew its stake in KeyCorp by 14.4% in the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after purchasing an additional 3,992,226 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.