Wells Fargo & Company Boosts KeyCorp (NYSE:KEY) Price Target to $18.00

KeyCorp (NYSE:KEY) had its target price boosted by equities researchers at Wells Fargo & Company from $16.00 to $18.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.58% from the stock’s previous close.

Several other research firms have also issued reports on KEY. Jefferies Financial Group upgraded KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $17.00 in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. The Goldman Sachs Group boosted their price objective on KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, DA Davidson reduced their price objective on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

KeyCorp Stock Up 0.4 %

Shares of KEY traded up $0.07 during trading hours on Thursday, hitting $15.71. 3,423,292 shares of the company were exchanged, compared to its average volume of 16,866,855. The company has a market cap of $14.57 billion, a PE ratio of 17.64 and a beta of 1.27. The firm’s 50 day moving average is $14.40 and its 200-day moving average is $12.90. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.83. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86.

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

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock valued at $303,914 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in KeyCorp during the fourth quarter worth about $272,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in KeyCorp in the 4th quarter valued at about $6,277,000. Wellington Management Group LLP raised its position in shares of KeyCorp by 104.4% during the 4th quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock worth $5,867,000 after buying an additional 208,077 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of KeyCorp during the 4th quarter worth about $157,000. Finally, Quarry LP bought a new stake in shares of KeyCorp during the 4th quarter worth about $38,000. 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.