Wells Fargo & Company Issues Positive Forecast for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY) had its price target raised by Wells Fargo & Company from $20.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on KEY. Evercore ISI upped their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays upped their price target on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Wedbush upped their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $18.03.

KeyCorp Trading Up 0.1 %

NYSE:KEY traded up $0.02 during trading hours on Friday, hitting $19.16. The company had a trading volume of 7,951,870 shares, compared to its average volume of 9,713,612. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $17.23 and a 200 day moving average of $15.80. The company has a market cap of $18.99 billion, a P/E ratio of 1,916.00, a P/E/G ratio of 1.05 and a beta of 1.24. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00.

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

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently bought and sold shares of KEY. Pathway Financial Advisers LLC purchased a new position in KeyCorp during the first quarter worth $25,000. Wolff Wiese Magana LLC increased its position in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC purchased a new position in KeyCorp during the third quarter worth $28,000. Crewe Advisors LLC purchased a new position in KeyCorp during the first quarter worth $32,000. Finally, Larson Financial Group LLC increased its position in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares in the last quarter. 79.69% of the stock is 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.