KeyCorp (NYSE:KEY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

KeyCorp (NYSE:KEY) has been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.1316.

A number of equities analysts have weighed in on KEY shares. DA Davidson upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. The Goldman Sachs Group raised their price objective on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, April 17th. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of KeyCorp from $24.50 to $22.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Piper Sandler increased their target price on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday.

Insider Activity

In related news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director directly owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This represents a 35.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 161,506 shares of company stock worth $3,597,481 over the last three months. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System purchased a new position in shares of KeyCorp in the first quarter valued at approximately $958,000. Kestra Private Wealth Services LLC raised its holdings in KeyCorp by 4.3% during the first quarter. Kestra Private Wealth Services LLC now owns 54,023 shares of the financial services provider’s stock worth $1,083,000 after purchasing an additional 2,237 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in KeyCorp during the first quarter worth approximately $784,000. Fifth Third Wealth Advisors LLC raised its holdings in KeyCorp by 19.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 12,798 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 2,083 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new stake in KeyCorp during the first quarter worth approximately $1,961,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY opened at $22.10 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a fifty day moving average price of $20.68 and a 200 day moving average price of $19.97. KeyCorp has a 1 year low of $13.90 and a 1 year high of $23.34. The stock has a market cap of $23.70 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.71 and a beta of 1.07.

KeyCorp (NYSE:KEY) last posted its earnings results 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 net margin of 17.03% and a return on equity of 10.80%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.8 earnings per share for the current year.

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.