KeyCorp (NYSE:KEY) Given New $20.00 Price Target at Evercore ISI

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

Other research analysts also recently issued research reports about the company. Jefferies Financial Group boosted their target price on KeyCorp from $18.00 to $19.00 and gave the stock a buy rating in a research note on Monday, August 19th. Wedbush upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a neutral rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $17.50 to $16.50 and set a neutral rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada reiterated an outperform rating and set a $17.00 price objective on shares of KeyCorp in a report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $16.91.

KeyCorp Stock Performance

Shares of KEY opened at $16.78 on Wednesday. The firm’s 50 day moving average price is $16.18 and its two-hundred day moving average price is $15.23. The firm has a market cap of $15.83 billion, a P/E ratio of 21.24, a PEG ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a twelve month low of $9.50 and a twelve month high of $17.39.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, analysts forecast that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Dividend Announcement

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

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Several large investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its holdings in KeyCorp by 1.0% during the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 704 shares during the period. Raymond James Trust N.A. increased its stake in shares of KeyCorp by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 724 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in KeyCorp by 3.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 742 shares during the last quarter. Czech National Bank grew its position in KeyCorp by 0.5% in the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after acquiring an additional 788 shares during the period. Finally, CWM LLC raised its holdings in KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after buying an additional 837 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.