KeyCorp (NYSE:KEY) Sets New 52-Week High – Here’s What Happened

KeyCorp (NYSE:KEY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $17.49 and last traded at $17.49, with a volume of 6377 shares trading hands. The stock had previously closed at $17.40.

Analysts Set New Price Targets

Several research firms have commented on KEY. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $17.00 in a report on Monday. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, DA Davidson raised their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

KeyCorp Stock Up 1.0 %

The firm has a 50 day moving average of $16.37 and a two-hundred day moving average of $15.30. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $16.57 billion, a PE ratio of 22.03, a P/E/G ratio of 0.94 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate that KeyCorp will post 1.08 earnings per share for the current year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’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 completion of the transaction, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its position in KeyCorp by 2.9% in the third quarter. Creative Planning now owns 142,257 shares of the financial services provider’s stock valued at $2,383,000 after purchasing an additional 3,964 shares during the period. Harrington Investments INC raised its holdings in shares of KeyCorp by 13.5% during the 3rd quarter. Harrington Investments INC now owns 46,204 shares of the financial services provider’s stock valued at $774,000 after buying an additional 5,500 shares during the period. ORG Wealth Partners LLC acquired a new position in KeyCorp during the 3rd quarter worth approximately $120,000. Exchange Traded Concepts LLC boosted its holdings in KeyCorp by 4.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 199,297 shares of the financial services provider’s stock worth $3,338,000 after acquiring an additional 9,140 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in KeyCorp by 628.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,113 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 7,000 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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.