The Goldman Sachs Group Issues Pessimistic Forecast for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY) had its price target cut by equities research analysts at The Goldman Sachs Group from $26.00 to $25.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 21.45% from the company’s previous close.

A number of other analysts also recently issued reports on KEY. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Barclays boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Morgan Stanley reduced their target price on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Evercore dropped their price target on KeyCorp from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Robert W. Baird set a $19.00 target price on KeyCorp and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.61.

KeyCorp Trading Down 0.4%

NYSE:KEY opened at $20.59 on Monday. KeyCorp has a 12 month low of $12.78 and a 12 month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $20.83 and a 200-day moving average price of $19.75. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.66 and a beta of 1.07.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 131.8% on a year-over-year basis. Equities analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares of the company’s stock, valued at $5,633,493.25. This represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,506 shares of company stock worth $3,597,481 in the last ninety days. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently bought and sold shares of KEY. United Community Bank acquired a new stake in KeyCorp in the third quarter valued at about $27,000. Maseco LLP purchased a new position in KeyCorp in the fourth quarter worth $27,000. DV Equities LLC acquired a new stake in KeyCorp in the fourth quarter valued at $27,000. GoalVest Advisory LLC purchased a new stake in shares of KeyCorp during the 4th quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new position in shares of KeyCorp during the 4th quarter worth $31,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.