KeyCorp (NYSE:KEY) Price Target Raised to $22.00

KeyCorp (NYSE:KEY) had its target price upped by investment analysts at Jefferies Financial Group from $19.00 to $22.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 6.69% from the company’s current price.

KEY has been the subject of several other reports. Evercore ISI lifted their price target on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. UBS Group raised their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. DA Davidson boosted their price objective on shares of KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Finally, Truist Financial cut their price objective on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.26.

KeyCorp Stock Performance

Shares of KEY stock traded down $0.07 during trading on Wednesday, reaching $20.62. 17,219,369 shares of the company’s stock were exchanged, compared to its average volume of 17,143,762. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.84. The firm’s fifty day moving average price is $18.07 and its 200-day moving average price is $17.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $22.54 billion, a PE ratio of 25.46, a PEG ratio of 0.62 and a beta of 1.11.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted ($0.47) EPS. KeyCorp’s quarterly revenue was up 172.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

Institutional Trading of KeyCorp

Institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its position in shares of KeyCorp by 2,258.4% during the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after acquiring an additional 2,463,880 shares in the last quarter. Nordea Investment Management AB lifted its stake in KeyCorp by 23.2% in the 2nd quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after buying an additional 20,228 shares in the last quarter. Signal Advisors Wealth LLC acquired a new position in shares of KeyCorp in the second quarter valued at approximately $431,000. Prudential Financial Inc. boosted its holdings in shares of KeyCorp by 9.9% in the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock valued at $10,018,000 after purchasing an additional 51,705 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of KeyCorp by 175.5% in the 2nd quarter. Korea Investment CORP now owns 447,252 shares of the financial services provider’s stock valued at $7,791,000 after acquiring an additional 284,928 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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.