Barclays Raises KeyCorp (NYSE:KEY) Price Target to $19.00

KeyCorp (NYSE:KEY) had its target price hoisted by Barclays from $16.00 to $19.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. Citigroup lifted their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research note on Monday, July 8th. DA Davidson increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.35 on Friday. The company has a market cap of $16.36 billion, a P/E ratio of 1,735.00, a P/E/G ratio of 0.97 and a beta of 1.25. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.88. The firm’s fifty day moving average is $16.61 and its two-hundred day moving average is $15.35.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $0.27 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board raised its stake in shares of KeyCorp by 8.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after acquiring an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after buying an additional 2,213,872 shares during the period. Earnest Partners LLC grew its position in shares of KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after buying an additional 300,339 shares during the period. Finally, Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.