KeyCorp (NYSE:KEY) Price Target Lowered to $19.00 at Truist Financial

KeyCorp (NYSE:KEY) had its price objective lowered by Truist Financial from $20.00 to $19.00 in a research note released on Friday morning, Marketbeat.com reports. The firm currently has a hold rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Royal Bank Of Canada increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Evercore ISI increased their price target on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. UBS Group raised their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 2nd. Finally, Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.86.

KeyCorp Stock Up 1.1%

KEY stock opened at $16.96 on Friday. The company’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $17.07. The firm has a market capitalization of $18.60 billion, a PE ratio of 20.94, a P/E/G ratio of 0.53 and a beta of 1.15. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s quarterly revenue was up 172.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.47) earnings per share. Equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. The trade was a 15.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Trina M. Evans sold 17,000 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares in the company, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,102 shares of company stock valued at $3,299,664. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management lifted its holdings in KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after buying an additional 586 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its holdings in KeyCorp by 4.8% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after buying an additional 608 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 639 shares in the last quarter. AlphaCore Capital LLC raised 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 valued at $212,000 after purchasing an additional 651 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds 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.