KeyCorp (NYSE:KEY) Receives $23.18 Average Target Price from Analysts

KeyCorp (NYSE:KEY) has earned an average rating of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.1842.

KEY has been the subject of several research analyst reports. DA Davidson boosted their price objective on KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Robert W. Baird boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Evercore reiterated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Finally, Truist Financial decreased their price objective on KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, March 23rd.

KeyCorp Price Performance

KeyCorp stock opened at $21.28 on Friday. The firm has a market capitalization of $23.07 billion, a P/E ratio of 13.05, a PEG ratio of 0.68 and a beta of 1.06. KeyCorp has a 1 year low of $15.28 and a 1 year high of $23.34. The business has a 50-day moving average of $20.73 and a 200-day moving average of $20.35. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the firm earned $0.38 EPS. KeyCorp’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

Insider Activity

In related news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several institutional investors have recently bought and sold shares of KEY. Brighton Jones LLC bought a new stake in KeyCorp in the 4th quarter valued at approximately $476,000. Woodline Partners LP lifted its stake in KeyCorp by 41.4% in the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 24,627 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in KeyCorp by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 1,890 shares in the last quarter. Cresset Asset Management LLC lifted its stake in KeyCorp by 6.5% in the 2nd quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 926 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in KeyCorp in the 2nd quarter valued at approximately $186,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.