KeyCorp (NYSE:KEY) Stock Has Average Target Price of $46.25

KeyCorp (NYSE:KEY) has been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $46.25.

A number of research firms recently weighed in on KEY. Truist Financial decreased their price target on KeyCorp from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a research note on Tuesday, September 22nd. Keefe, Bruyette & Woods boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Sunday, October 25th. Finally, Jefferies Financial Group decreased their price objective on KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, September 24th.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $20.95 on Friday. KeyCorp has a 1 year low of $16.91 and a 1 year high of $24.07. The firm has a market cap of $22.35 billion, a P/E ratio of 11.51, a PEG ratio of 0.76 and a beta of 1.07. The stock has a fifty day moving average price of $20.89 and a two-hundred day moving average price of $21.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Research analysts forecast that KeyCorp will post 1.88 EPS for the current fiscal year.

Insider Activity

In other news, insider Andrew Paine, III sold 39,130 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the transaction, the insider directly owned 191,571 shares in the company, valued at $4,061,305.20. The trade was a 16.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently made changes to their positions in KEY. Bank of Nova Scotia bought a new position in shares of KeyCorp in the second quarter worth about $3,636,436,000. BlackRock Inc. bought a new position in KeyCorp in the 2nd quarter valued at $2,039,113,000. Deutsche Bank AG acquired a new stake in shares of KeyCorp in the 2nd quarter valued at $380,244,000. North Reef Capital Management LP bought a new stake in shares of KeyCorp during the first quarter worth $253,632,000. Finally, Legal & General Group Plc acquired a new position in shares of KeyCorp during the second quarter valued at $142,169,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.