Jefferies Financial Group Cuts KeyCorp (NYSE:KEY) Price Target to $22.00

KeyCorp (NYSE:KEY) had its price objective cut by stock analysts at Jefferies Financial Group from $24.00 to $22.00 in a report released on Thursday. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 8.78% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Argus raised KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Truist Financial dropped their price objective on shares of KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday. TD Cowen reaffirmed a “buy” rating and set a $68.00 price objective on shares of KeyCorp in a research report on Tuesday, June 23rd. Stephens reaffirmed an “overweight” rating and issued a $26.00 price target on shares of KeyCorp in a report on Tuesday, September 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $49.03.

KeyCorp Trading Down 1.2%

KEY stock opened at $20.23 on Thursday. KeyCorp has a fifty-two week low of $16.47 and a fifty-two week high of $24.07. The firm has a market cap of $21.58 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.02. The firm has a fifty day moving average price of $22.22 and a 200 day moving average price of $21.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its stake in KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 456 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of KeyCorp by 19.0% during the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after buying an additional 508 shares during the period. EverSource Wealth Advisors LLC boosted its position in KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 522 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in KeyCorp by 1.7% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock valued at $650,000 after buying an additional 556 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of KeyCorp by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 567 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.