KeyCorp (NYSE:KEY) Receives $20.75 Average Price Target from Brokerages

KeyCorp (NYSE:KEY) has earned an average recommendation of “Hold” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $20.75.

Several research analysts have recently issued reports on KEY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. DA Davidson decreased their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, October 17th. UBS Group boosted their price target on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Truist Financial reduced their price target on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, October 17th.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $17.83 on Wednesday. The stock has a market capitalization of $19.55 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 0.53 and a beta of 1.15. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. 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 company has a 50-day simple moving average of $18.52 and a two-hundred day simple moving average of $17.19.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share 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 the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted ($0.47) EPS. The firm’s quarterly revenue was up 172.7% on a year-over-year basis. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC purchased a new position in KeyCorp during the 4th quarter valued at about $476,000. GAMMA Investing LLC grew its holdings in shares of KeyCorp by 9.6% during the first quarter. GAMMA Investing LLC now owns 33,339 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 2,926 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in KeyCorp by 50.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 154,069 shares of the financial services provider’s stock valued at $2,464,000 after purchasing an additional 51,618 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of KeyCorp by 57.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 166,262 shares of the financial services provider’s stock valued at $2,659,000 after buying an additional 60,401 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in KeyCorp by 3.2% during the first quarter. State of Alaska Department of Revenue now owns 116,665 shares of the financial services provider’s stock valued at $1,865,000 after purchasing an additional 3,655 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

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.