KeyCorp (NYSE:KEY) Given New $18.00 Price Target at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY - Free Report) had its price target cut by Keefe, Bruyette & Woods from $20.00 to $18.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Several other analysts have also recently weighed in on the company. Barclays dropped their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday. DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Stephens reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.15.

KeyCorp Price Performance

Shares of KEY traded down $0.15 during mid-day trading on Monday, hitting $14.72. 8,052,209 shares of the company traded hands, compared to its average volume of 12,858,678. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average of $15.42 and a 200 day moving average of $17.06. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of -49.07, a PEG ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period last year, the firm earned $0.20 EPS. As a group, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock 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 acquired 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, 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 three months, insiders acquired 60,180 shares of company stock valued at $1,032,525. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

A number of institutional investors have recently modified their holdings of KEY. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after buying an additional 7,754,576 shares in the last quarter. FMR LLC boosted its position in KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after acquiring an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of KeyCorp by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock worth $622,229,000 after acquiring an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after purchasing an additional 1,452,179 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of KeyCorp by 4.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after purchasing an additional 1,062,615 shares in the last quarter. 79.69% of the stock is currently owned by 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.