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

KeyCorp (NYSE:KEY - Free Report) had its target price cut by Barclays from $21.00 to $20.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.15.

KeyCorp Trading Down 1.0 %

Shares of NYSE:KEY traded down $0.15 during trading on Monday, reaching $14.73. 890,983 shares of the stock were exchanged, compared to its average volume of 12,847,187. The firm's 50-day moving average price is $15.49 and its 200 day moving average price is $17.07. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of -49.02, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has authorized a share buyback plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now owns 10,000 shares in the company, valued at approximately $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 60,180 shares of company stock worth $1,032,525. 0.52% of the stock is currently owned by insiders.

Institutional Trading of KeyCorp

Several institutional investors have recently modified their holdings of KEY. Whittier Trust Co. boosted its position in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC bought a new position in shares of KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in KeyCorp in the fourth quarter valued at $34,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of KeyCorp during the first quarter valued at $34,000. Institutional investors and hedge funds 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.