KeyCorp (NYSE:KEY) Stock Price Target Raised at JPMorgan Chase & Co.

KeyCorp (NYSE:KEY) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $23.00 to $23.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.32% from the stock’s current price.

Several other equities research analysts also recently commented on KEY. TD Cowen started coverage on KeyCorp in a report on Thursday, October 8th. They issued a “buy” rating and a $23.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Wall Street Zen upgraded KeyCorp from a “sell” rating to a “hold” rating in a research report on Sunday, October 25th. Keefe, Bruyette & Woods increased their target price on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird lifted their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.

KeyCorp Stock Down 1.8%

Shares of NYSE:KEY traded down $0.38 during trading on Friday, hitting $21.11. The company’s stock had a trading volume of 18,718,073 shares, compared to its average volume of 13,948,104. The company has a market capitalization of $22.53 billion, a PE ratio of 11.60, a PEG ratio of 0.75 and a beta of 1.08. The stock’s 50-day moving average price is $20.95 and its two-hundred day moving average price is $21.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a fifty-two week low of $16.91 and a fifty-two week high of $24.07.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.88 EPS for the current year.

Insiders Place Their Bets

In related news, insider Andrew Paine, III sold 39,130 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total value of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares in the company, valued at approximately $4,061,305.20. This represents a 16.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

Institutional Trading of KeyCorp

Hedge funds have recently added to or reduced their stakes in the business. Bank of Nova Scotia bought a new stake in shares of KeyCorp during the second quarter valued at approximately $3,636,436,000. BlackRock Inc. bought a new stake in KeyCorp during the 2nd quarter worth $2,039,113,000. State Street Corp lifted its holdings in shares of KeyCorp by 9.0% during the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock worth $1,184,048,000 after purchasing an additional 4,238,225 shares during the period. Deutsche Bank AG acquired a new stake in shares of KeyCorp in the second quarter valued at about $380,244,000. Finally, North Reef Capital Management LP acquired a new position in KeyCorp in the first quarter valued at $253,632,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.