KeyCorp (NYSE:KEY) Price Target Raised to $26.00

KeyCorp (NYSE:KEY) had its target price upped by Evercore ISI from $25.00 to $26.00 in a report published on Thursday morning,MarketScreener reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Argus boosted their target price on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. Finally, Robert W. Baird cut KeyCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.90.

KeyCorp Trading Up 2.4%

KeyCorp stock opened at $23.24 on Thursday. KeyCorp has a one year low of $12.73 and a one year high of $23.29. The business’s fifty day moving average is $20.95 and its 200 day moving average is $19.17. The stock has a market capitalization of $25.40 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 131.8% compared to the same quarter last year. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 3.5%. KeyCorp’s dividend payout ratio is presently 53.95%.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the sale, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. This represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KEY. Activest Wealth Management raised its holdings in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,404 shares during the period. United Community Bank bought a new stake in KeyCorp during the 3rd quarter valued at approximately $27,000. Maseco LLP bought a new stake in KeyCorp during the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp in the 4th quarter worth approximately $30,000. Finally, Sachetta LLC boosted its stake in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.