DA Davidson Raises KeyCorp (KEY) Price Target to $26.00

KeyCorp (NYSE:KEY) had its target price hoisted by equities researchers at DA Davidson to $26.00 in a research note issued on Friday, The Fly reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 24.88% from the company’s current price.

Several other research analysts also recently commented on KEY. Sanford C. Bernstein reissued an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a research note on Wednesday, September 27th. Robert W. Baird restated a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Citigroup upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 9th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $21.98.

KeyCorp (NYSE KEY) opened at $20.82 on Friday. KeyCorp has a 52 week low of $16.28 and a 52 week high of $21.71. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $22,863.00, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.62 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. During the same period in the prior year, the company posted $0.31 earnings per share. equities analysts predict that KeyCorp will post 1.37 earnings per share for the current year.

In other KeyCorp news, Director Elizabeth R. Gile purchased 1,374 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the acquisition, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the transaction, the insider now owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,212 shares of company stock valued at $1,060,508. Company insiders own 0.65% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation grew its holdings in shares of KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp during the 3rd quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp during the 3rd quarter worth about $145,000. Sun Life Financial INC lifted its stake in KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new position in KeyCorp during the 3rd quarter worth about $173,000. Institutional investors and hedge funds own 81.01% of the company’s stock.

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KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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