KeyCorp (NYSE:KEY) Given New $415.00 Price Target at Susquehanna

KeyCorp (NYSE:KEY) had its target price upped by stock analysts at Susquehanna from $300.00 to $415.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a “positive” rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the company. Piper Sandler boosted their target price on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Weiss Ratings raised KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Truist Financial lowered their price target on KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. DA Davidson lifted their target price on shares of KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Robert W. Baird boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.78.

KeyCorp Stock Up 0.5%

Shares of KEY traded up $0.10 during trading hours on Monday, reaching $21.14. The company’s stock had a trading volume of 622,595 shares, compared to its average volume of 15,060,287. The company has a 50 day moving average of $20.74 and a two-hundred day moving average of $20.42. 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 firm has a market cap of $22.92 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.67 and a beta of 1.06. KeyCorp has a 1-year low of $15.28 and a 1-year high of $23.34.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has approved a share repurchase program on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 13% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the transaction, the insider owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. United Community Bank bought a new position in KeyCorp during the third quarter valued at about $27,000. Maseco LLP acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $27,000. DV Equities LLC bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new position in shares of KeyCorp in the fourth quarter valued at $30,000. Finally, Smithfield Trust Co bought a new position in KeyCorp in the fourth 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.