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

KeyCorp (NYSE:KEY) had its price target raised by DA Davidson to $26.00 in a report issued on Friday, The Fly reports. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for KeyCorp’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.87 EPS.

A number of other research firms have also recently issued reports on KEY. Vining Sparks reiterated a buy rating and set a $25.00 price objective on shares of KeyCorp in a research report on Thursday. Sandler O’Neill reiterated a hold rating and set a $21.50 price objective on shares of KeyCorp in a research report on Friday. Zacks Investment Research upgraded shares of KeyCorp from a hold rating to a buy rating and set a $23.00 price objective for the company in a research report on Tuesday, December 26th. Barclays upped their price objective on shares of KeyCorp from $19.00 to $23.00 and gave the stock an underweight rating in a research report on Tuesday, January 2nd. Finally, CIBC restated a buy rating on shares of KeyCorp in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. KeyCorp presently has an average rating of Buy and an average price target of $21.98.

KeyCorp (NYSE:KEY) traded up $0.34 during mid-day trading on Friday, reaching $21.16. 13,614,699 shares of the company were exchanged, compared to its average volume of 10,088,754. The firm has a market cap of $22,920.00, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.58 and a beta of 1.09. KeyCorp has a twelve month low of $16.28 and a twelve month high of $21.71. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the prior year, the company earned $0.31 EPS. analysts predict that KeyCorp will post 1.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 37.50%.

In related news, Director Elizabeth R. Gile bought 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now directly owns 24,989 shares in the company, valued at $455,549.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares in the company, valued at $2,042,565.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,212 shares of company stock worth $1,060,508. Insiders own 0.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Patten & Patten Inc. TN boosted its stake in KeyCorp by 125.9% during the fourth quarter. Patten & Patten Inc. TN now owns 606,197 shares of the financial services provider’s stock worth $12,227,000 after acquiring an additional 337,842 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in KeyCorp by 25.7% during the fourth quarter. State of Alaska Department of Revenue now owns 168,222 shares of the financial services provider’s stock worth $3,391,000 after acquiring an additional 34,390 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in KeyCorp by 27.0% during the fourth quarter. Fox Run Management L.L.C. now owns 36,462 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 7,762 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in KeyCorp by 3.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,710,242 shares of the financial services provider’s stock worth $74,836,000 after acquiring an additional 134,355 shares in the last quarter. Finally, National Pension Service boosted its stake in KeyCorp by 4.5% during the fourth quarter. National Pension Service now owns 1,113,145 shares of the financial services provider’s stock worth $22,452,000 after acquiring an additional 47,814 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.

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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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