Deutsche Bank AG Increases KeyCorp (KEY) Price Target to $18.00
KeyCorp (NYSE:KEY) had its target price boosted by Deutsche Bank AG from $14.00 to $18.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank AG’s target price would indicate a potential upside of 3.99% from the company’s current price.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, October 28th. Jefferies Group restated a “buy” rating and issued a $16.00 price objective on shares of KeyCorp in a research note on Wednesday, October 26th. Rafferty Capital Markets upgraded KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 25th. Vetr lowered KeyCorp from a “strong-buy” rating to a “buy” rating and set a $14.14 price objective on the stock. in a research note on Wednesday, October 19th. Finally, Citigroup Inc. upped their price objective on KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.21.
Shares of KeyCorp (NYSE:KEY) traded up 1.76% during mid-day trading on Wednesday, reaching $17.31. The company had a trading volume of 18,360,720 shares. The firm’s 50 day moving average is $14.68 and its 200-day moving average is $12.70. The stock has a market capitalization of $18.71 billion, a P/E ratio of 19.94 and a beta of 1.00. KeyCorp has a 12-month low of $9.88 and a 12-month high of $17.59.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, analysts expect that KeyCorp will post $1.10 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, November 25th. KeyCorp’s payout ratio is presently 39.08%.
WARNING: This story was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international copyright & trademark laws. The legal version of this story can be accessed at http://www.dailypolitical.com/2016/11/30/deutsche-bank-ag-increases-keycorp-key-price-target-to-18-00.html.
A number of hedge funds and other institutional investors have recently made changes to their positions in KEY. MCF Advisors LLC increased its position in shares of KeyCorp by 0.7% in the third quarter. MCF Advisors LLC now owns 8,598 shares of the financial services provider’s stock valued at $105,000 after buying an additional 59 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in KeyCorp during the third quarter valued at $109,000. MSI Financial Services Inc raised its position in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock valued at $109,000 after buying an additional 860 shares during the period. Cutler Capital Management LLC acquired a new position in KeyCorp during the third quarter valued at $121,000. Finally, Checchi Capital Advisers LLC raised its position in KeyCorp by 55.6% in the third quarter. Checchi Capital Advisers LLC now owns 10,231 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,657 shares during the period. 78.55% of the stock is currently owned by hedge funds and other institutional investors.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.