KeyCorp (NYSE:KEY) Price Target Raised to $18.00 at Evercore ISI

KeyCorp (NYSE:KEY) had its price target raised by Evercore ISI from $17.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

KEY has been the subject of several other research reports. Stephens upgraded KeyCorp from an equal weight rating to an overweight rating in a report on Wednesday, December 20th. Raymond James assumed coverage on shares of KeyCorp in a research report on Monday, January 8th. They set a market perform rating on the stock. Wells Fargo & Company lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a report on Thursday. Jefferies Financial Group upgraded KeyCorp from a hold rating to a buy rating and increased their price target for the company from $10.00 to $17.00 in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $17.00 to $16.00 and set an outperform rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $15.00.

KeyCorp Trading Up 1.0 %

Shares of KeyCorp stock opened at $15.80 on Thursday. The company has a market capitalization of $14.65 billion, a P/E ratio of 17.75 and a beta of 1.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average of $14.43 and a 200 day moving average of $12.92. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts anticipate that KeyCorp will post 1.18 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is presently 92.13%.

Insider Transactions at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. grew its holdings in KeyCorp by 2.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in KeyCorp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock worth $424,000 after buying an additional 584 shares during the last quarter. BOKF NA increased its position in KeyCorp by 3.4% during the 4th quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock valued at $351,000 after buying an additional 665 shares in the last quarter. Cetera Investment Advisers raised its stake in KeyCorp by 4.1% in the first quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock valued at $412,000 after buying an additional 720 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in KeyCorp by 6.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other 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.