KeyCorp (NYSE:KEY) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $24.00 target price on the financial services provider’s stock, up from their prior target price of $23.00. Deutsche Bank’s price target suggests a potential upside of 9.94% from the company’s previous close.
Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, Vining Sparks reaffirmed a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. KeyCorp presently has an average rating of “Buy” and a consensus price target of $22.07.
KeyCorp (NYSE:KEY) traded up $0.16 on Thursday, hitting $21.83. The company had a trading volume of 8,423,674 shares, compared to its average volume of 9,040,000. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $23,480.00, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $21.88.
In related news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was 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 in the company, valued at $455,549.47. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after purchasing an additional 1,765,263 shares during the period. Boston Partners purchased a new position in shares of KeyCorp in the 3rd quarter worth about $356,111,000. Bessemer Group Inc. raised its holdings in shares of KeyCorp by 0.5% in the 3rd quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock worth $227,079,000 after purchasing an additional 64,958 shares during the period. Janus Henderson Group PLC grew its stake in shares of KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after buying an additional 8,962,913 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in shares of KeyCorp by 1.4% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 7,987,775 shares of the financial services provider’s stock valued at $149,691,000 after buying an additional 106,772 shares in the last quarter. Institutional investors own 81.00% of the company’s stock.
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KeyCorp Company Profile
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.
