KeyCorp (NYSE:KEY) Earns Hold Rating from Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group initiated coverage on shares of KeyCorp (NYSE:KEY) in a note issued to investors on Wednesday,Benzinga reports. The firm set a “hold” rating and a $18.00 price target on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 10.57% from the stock’s current price.

A number of other equities analysts have also weighed in on KEY. Barclays decreased their target price on KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Truist Financial cut their target price on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley restated an “equal weight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, StockNews.com raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $18.86.

KeyCorp Stock Down 1.3%

Shares of NYSE KEY opened at $16.28 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.84 billion, a P/E ratio of -54.26, a P/E/G ratio of 0.65 and a beta of 1.08. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The business has a 50-day simple moving average of $15.19 and a two-hundred day simple moving average of $16.88.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $0.20 earnings per share. Research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the transaction, the director now directly owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. This represents a ? increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Large investors have recently modified their holdings of the stock. TCTC Holdings LLC lifted its holdings in KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after buying an additional 611 shares during the period. Signaturefd LLC boosted its holdings in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after buying an additional 614 shares in the last quarter. Modera Wealth Management LLC grew its position in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after buying an additional 627 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 631 shares in the last quarter. Finally, AlphaCore Capital LLC increased its stake in shares of KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 651 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.