Wells Fargo & Company Raises KeyCorp (NYSE:KEY) Price Target to $22.00

KeyCorp (NYSE:KEY) had its price objective lifted by Wells Fargo & Company from $20.00 to $22.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on KEY. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Barclays lifted their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Trading Up 0.1 %

KEY stock traded up $0.02 during trading on Friday, reaching $19.16. 7,951,870 shares of the stock traded hands, compared to its average volume of 9,713,612. The business’s 50 day moving average price is $17.23 and its 200-day moving average price is $15.80. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $18.99 billion, a PE ratio of 1,916.00, a P/E/G ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, sell-side analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC grew its holdings in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in KeyCorp during the 1st quarter worth $25,000. American Capital Advisory LLC acquired a new position in KeyCorp during the 3rd quarter worth $28,000. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of KeyCorp during the first quarter valued at about $32,000. Institutional investors own 79.69% of the company’s stock.

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.