KeyCorp (NYSE:KEY)‘s stock had its “buy” rating restated by equities researchers at Vining Sparks in a research report issued to clients and investors on Thursday. They presently have a $25.00 price target on the financial services provider’s stock. Vining Sparks’ price target points to a potential upside of 20.08% from the stock’s previous close.
The analysts wrote, “We continue to expect KEY to grow its operating earnings per share by 32% in 2018E, which still remains approximately 8% above the market’s consensus expectations. Therefore, we have maintained our price target at $25 and reaffirmed our rating at “Strong Buy” with a potential 20% total return expected over the next 12 months.””
Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a report on Thursday, October 19th. CIBC restated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, December 26th. Finally, Robert W. Baird reiterated a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. KeyCorp currently has a consensus rating of “Buy” and an average target price of $21.74.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. analysts anticipate that KeyCorp will post 1.37 earnings per share for the current year.
In related news, Director Carlton L. Highsmith sold 7,600 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth R. Gile purchased 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its position in KeyCorp by 0.7% in the third quarter. MCF Advisors LLC now owns 8,598 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 59 shares during the period. Focused Wealth Management Inc raised its position in KeyCorp by 613.0% in the first quarter. Focused Wealth Management Inc now owns 5,961 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 5,125 shares during the period. Zions Bancorporation raised its position in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares during the period. MSI Financial Services Inc raised its position in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 860 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new stake in KeyCorp in the third quarter worth about $109,000. Institutional investors and hedge funds own 81.01% of the company’s stock.
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.
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