KeyCorp (NYSE:KEY) Given New $22.00 Price Target at Jefferies Financial Group

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

KEY has been the subject of a number of other reports. Argus raised KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their target price on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. UBS Group lifted their price objective on KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial decreased their target price on shares of KeyCorp from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.03.

KeyCorp Price Performance

Shares of KEY opened at $20.23 on Thursday. KeyCorp has a twelve month low of $16.47 and a twelve month high of $24.07. The firm has a market cap of $21.58 billion, a PE ratio of 11.76, a PEG ratio of 0.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50 day moving average price is $22.22 and its 200 day moving average price is $21.76.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping 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 business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $0.35 earnings per share. KeyCorp’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts expect that KeyCorp will post 1.83 EPS for the current fiscal year.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. bought a new stake in shares of KeyCorp during the second quarter worth about $5,781,000. Envestnet Portfolio Solutions Inc. bought a new stake in KeyCorp in the 2nd quarter valued at about $11,996,000. Andra AP fonden increased its stake in KeyCorp by 86.0% during the 2nd quarter. Andra AP fonden now owns 192,539 shares of the financial services provider’s stock valued at $4,438,000 after purchasing an additional 89,000 shares in the last quarter. State Street Corp increased its holdings in KeyCorp by 9.0% during the 2nd quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock worth $1,184,048,000 after purchasing an additional 4,238,225 shares in the last quarter. Finally, Core Capital Management & Research inc. purchased a new stake in shares of KeyCorp in the second quarter valued at about $164,000. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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.