KeyCorp (KEY) Price Target Raised to $26.00

KeyCorp (NYSE:KEY) had its target price lifted by equities research analysts at DA Davidson to $26.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 22.87% from the stock’s previous close. DA Davidson also issued estimates for KeyCorp’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.87 EPS.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. CIBC reiterated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note 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 research note on Tuesday, December 26th. Finally, Vining Sparks reiterated a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. KeyCorp presently has an average rating of “Buy” and a consensus target price of $21.98.

Shares of KeyCorp (NYSE:KEY) traded up $0.34 during trading on Friday, reaching $21.16. 13,327,544 shares of the company’s stock traded hands, compared to its average volume of 8,950,000. KeyCorp has a twelve month low of $16.28 and a twelve month high of $21.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. The firm has a market cap of $22,760.00, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.31 EPS. equities analysts forecast that KeyCorp will post 1.64 EPS for the current year.

In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth R. Gile bought 1,374 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average cost 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 in the company, valued at $455,549.47. The disclosure for this purchase can be found here. Over the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. Insiders own 0.65% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in shares of KeyCorp by 0.8% during the 2nd quarter. Advisory Services Network LLC now owns 18,211 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 150 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of KeyCorp by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,886 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 216 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of KeyCorp by 1.0% during the 2nd quarter. Sterling Capital Management LLC now owns 75,132 shares of the financial services provider’s stock valued at $1,408,000 after purchasing an additional 757 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of KeyCorp by 3.8% during the 2nd quarter. Moors & Cabot Inc. now owns 33,646 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 1,230 shares during the last quarter. Finally, AXA grew its holdings in shares of KeyCorp by 2.2% during the 2nd quarter. AXA now owns 64,919 shares of the financial services provider’s stock valued at $1,217,000 after purchasing an additional 1,400 shares during the last quarter. 81.01% 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.

The Fly

Analyst Recommendations for KeyCorp (NYSE:KEY)

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