KeyCorp (KEY) PT Raised to $23.00 at Barclays

KeyCorp (NYSE:KEY) had its price target raised by equities researchers at Barclays from $19.00 to $23.00 in a note issued to investors on Tuesday. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Barclays’ target price points to a potential upside of 14.03% from the stock’s current price.

A number of other equities research analysts have also recently commented on KEY. Sanford C. Bernstein upgraded KeyCorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $21.00 to $22.00 in a report on Thursday, September 14th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a report on Friday, October 6th. Citigroup raised their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.56.

Shares of KeyCorp (KEY) traded down $0.18 during trading hours on Tuesday, reaching $20.17. The company’s stock had a trading volume of 5,497,300 shares, compared to its average volume of 10,816,800. The firm has a market cap of $21,690.82, a PE ratio of 17.69, a PEG ratio of 1.83 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. KeyCorp has a 52-week low of $16.28 and a 52-week high of $20.58.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. equities analysts anticipate that KeyCorp will post 1.37 EPS for the current year.

In related news, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock worth $1,060,508 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in KEY. Beach Investment Management LLC. purchased a new position in KeyCorp in the second quarter valued at about $241,000. Blair William & Co. IL raised its position in KeyCorp by 1.4% in the second quarter. Blair William & Co. IL now owns 14,953 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 204 shares during the period. Pacer Advisors Inc. raised its position in KeyCorp by 8.3% in the second quarter. Pacer Advisors Inc. now owns 24,510 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 1,885 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in KeyCorp by 1.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 48,505 shares of the financial services provider’s stock valued at $909,000 after purchasing an additional 877 shares during the period. Finally, Principal Financial Group Inc. raised its position in KeyCorp by 7.3% in the second quarter. Principal Financial Group Inc. now owns 1,732,296 shares of the financial services provider’s stock valued at $32,463,000 after purchasing an additional 117,117 shares during the period. 80.91% of the stock is currently owned by institutional investors.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.