KeyCorp (KEY) PT Raised to $20.00 at Citigroup Inc.

KeyCorp (NYSE:KEY) had its price target lifted by Citigroup Inc. from $19.00 to $20.00 in a research note issued to investors on Monday. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup Inc.’s price target points to a potential upside of 7.01% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. UBS AG raised KeyCorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $22.00 in a research note on Monday, July 10th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a research note on Saturday, July 22nd. Zacks Investment Research lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $21.00 to $22.00 in a research note on Thursday, September 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.03.

KeyCorp (NYSE KEY) traded down 0.54% during trading on Monday, hitting $18.59. The stock had a trading volume of 2,215,559 shares. KeyCorp has a 12-month low of $12.20 and a 12-month high of $19.53. The firm has a market cap of $20.22 billion, a P/E ratio of 18.46 and a beta of 1.13. The stock’s 50 day moving average price is $17.84 and its 200 day moving average price is $18.07.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. On average, analysts anticipate that KeyCorp will post $1.36 EPS for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “KeyCorp (KEY) PT Raised to $20.00 at Citigroup Inc.” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/keycorp-key-pt-raised-to-20-00-at-citigroup-inc.html.

In other news, Director Ruth Ann M. Gillis acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, for a total transaction of $35,820.00. Following the acquisition, the director now directly owns 10,551 shares in the company, valued at approximately $188,968.41. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Paul N. Harris sold 205,024 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $18.56, for a total value of $3,805,245.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 16,000 shares of company stock valued at $290,540 and have sold 259,409 shares valued at $4,794,449. Corporate insiders own 0.65% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY increased its holdings in shares of KeyCorp by 177.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of 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 buying an additional 8,037 shares during the last quarter. Quantbot Technologies LP acquired a new stake in KeyCorp in the 2nd quarter valued at $174,000. First Financial Bank Trust Division acquired a new stake in KeyCorp in the 2nd quarter valued at $192,000. Finally, Equity I

A number of other equities research analysts have also issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. UBS AG raised KeyCorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $22.00 in a research note on Monday, July 10th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a research note on Saturday, July 22nd. Zacks Investment Research lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $21.00 to $22.00 in a research note on Thursday, September 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.03.

KeyCorp (NYSE KEY) traded down 0.54% during trading on Monday, hitting $18.59. The stock had a trading volume of 2,215,559 shares. KeyCorp has a 12-month low of $12.20 and a 12-month high of $19.53. The firm has a market cap of $20.22 billion, a P/E ratio of 18.46 and a beta of 1.13. The stock’s 50 day moving average price is $17.84 and its 200 day moving average price is $18.07.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. On average, analysts anticipate that KeyCorp will post $1.36 EPS for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “KeyCorp (KEY) PT Raised to $20.00 at Citigroup Inc.” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/keycorp-key-pt-raised-to-20-00-at-citigroup-inc.html.

In other news, Director Ruth Ann M. Gillis acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, for a total transaction of $35,820.00. Following the acquisition, the director now directly owns 10,551 shares in the company, valued at approximately $188,968.41. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Paul N. Harris sold 205,024 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $18.56, for a total value of $3,805,245.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 16,000 shares of company stock valued at $290,540 and have sold 259,409 shares valued at $4,794,449. Corporate insiders own 0.65% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY increased its holdings in shares of KeyCorp by 177.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of 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 buying an additional 8,037 shares during the last quarter. Quantbot Technologies LP acquired a new stake in KeyCorp in the 2nd quarter valued at $174,000. First Financial Bank Trust Division acquired a new stake in KeyCorp in the 2nd quarter valued at $192,000. Finally, Equity Investment Corp Acquisition Inc increased its holdings in KeyCorp by 3.9% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.

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.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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