KeyCorp (NYSE:KEY) Hits New 12-Month High – Here’s Why

KeyCorp (NYSE:KEY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.86 and last traded at $18.85, with a volume of 246325 shares trading hands. The stock had previously closed at $17.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Morgan Stanley increased their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Wedbush increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.79.

KeyCorp Stock Down 4.2 %

The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 1,914.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. The firm’s fifty day moving average price is $16.88 and its two-hundred day moving average price is $15.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KEY. OneAscent Financial Services LLC bought a new stake in KeyCorp during the third quarter worth $492,000. Caprock Group LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth $354,000. Pathstone Holdings LLC raised its holdings in shares of KeyCorp by 1.2% in the third quarter. Pathstone Holdings LLC now owns 205,485 shares of the financial services provider’s stock valued at $3,442,000 after purchasing an additional 2,477 shares during the last quarter. New England Asset Management Inc. lifted its position in shares of KeyCorp by 0.8% during the third quarter. New England Asset Management Inc. now owns 562,160 shares of the financial services provider’s stock valued at $9,416,000 after purchasing an additional 4,615 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in KeyCorp by 18.4% during the third quarter. Meeder Advisory Services Inc. now owns 36,753 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 5,703 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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.