KeyCorp (NYSE:KEY) Price Target Raised to $20.00 at Evercore ISI

KeyCorp (NYSE:KEY) had its price objective boosted by Evercore ISI from $18.50 to $20.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

KEY has been the topic of a number of other reports. Royal Bank of Canada reissued an outperform rating and issued a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Tuesday, September 24th. UBS Group downgraded KeyCorp from a buy rating to a neutral rating and lowered their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Finally, DA Davidson increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a buy rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.91.

KeyCorp Price Performance

Shares of KEY opened at $16.78 on Wednesday. The stock has a market cap of $15.83 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.39. The firm has a fifty day moving average price of $16.18 and a 200 day moving average price of $15.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. As a group, sell-side analysts anticipate that KeyCorp will post 1.1 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in KeyCorp during the 1st quarter valued at $25,000. Crewe Advisors LLC acquired a new stake in shares of KeyCorp in the first quarter valued at $32,000. Fidelis Capital Partners LLC bought a new position in shares of KeyCorp in the first quarter valued at about $39,000. Quarry LP acquired a new position in KeyCorp during the 4th quarter worth about $38,000. Finally, Centerpoint Advisors LLC grew its holdings in KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,107 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

About KeyCorp

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.