KeyCorp (NYSE:KEY) Price Target Increased to $16.00 by Analysts at Argus

KeyCorp (NYSE:KEY) had its price target upped by Argus from $15.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. Argus currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on KEY. Morgan Stanley lifted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Piper Sandler lifted their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Friday, January 26th. DA Davidson dropped their price target on shares of KeyCorp from $17.00 to $16.00 and set a buy rating for the company in a research note on Friday, January 19th. Evercore ISI lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $15.71.

KeyCorp Stock Performance

KEY opened at $14.63 on Friday. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 18.52 and a beta of 1.29. The company has a fifty day moving average of $14.69 and a 200 day moving average of $13.38. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.86 and a current ratio of 0.87.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,442 shares of company stock valued at $303,914. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in shares of KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of KeyCorp in the 3rd quarter valued at about $28,000. First United Bank & Trust purchased a new position in shares of KeyCorp in the 4th quarter valued at about $29,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of KeyCorp in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

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.