KeyCorp (NYSE:KEY) Given New $23.00 Price Target at JPMorgan Chase & Co.

KeyCorp (NYSE:KEY) had its price target cut by JPMorgan Chase & Co. from $24.50 to $23.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.51% from the company’s current price.

A number of other research analysts also recently weighed in on KEY. Robert W. Baird lifted their price target on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $24.00 target price on shares of KeyCorp in a research note on Thursday. Stephens restated an “overweight” rating and set a $26.00 price target on shares of KeyCorp in a report on Tuesday, September 15th. Argus upgraded shares of KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, DA Davidson reissued a “buy” rating and set a $28.00 target price on shares of KeyCorp in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.94.

KeyCorp Trading Up 0.2%

KeyCorp stock traded up $0.04 during midday trading on Friday, reaching $20.09. The stock had a trading volume of 4,911,352 shares, compared to its average volume of 13,447,358. The firm’s fifty day simple moving average is $21.86 and its two-hundred day simple moving average is $21.79. KeyCorp has a twelve month low of $16.47 and a twelve month high of $24.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.76 and a beta of 1.08.

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

Institutional Inflows and Outflows

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

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.