KeyCorp (NYSE:KEY) Stock Price Expected to Rise, Susquehanna Analyst Says

KeyCorp (NYSE:KEY) had its price target hoisted by investment analysts at Susquehanna from $300.00 to $415.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “positive” rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada increased their price target on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Evercore restated an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. Argus lifted their price target on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird raised their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

KeyCorp Price Performance

KeyCorp stock traded up $0.10 during mid-day trading on Monday, hitting $21.14. 622,595 shares of the company were exchanged, compared to its average volume of 15,060,287. The company has a market capitalization of $22.92 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.06. The business has a fifty day moving average of $20.74 and a 200 day moving average of $20.42. KeyCorp has a 1-year low of $15.28 and a 1-year high of $23.34. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.82 earnings per share for the current year.

KeyCorp declared that its board has initiated a stock repurchase plan on Wednesday, May 13th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 13% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the sale, the insider directly owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in KeyCorp during the 4th quarter worth $476,000. Woodline Partners LP boosted its position in shares of KeyCorp by 41.4% in the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 24,627 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of KeyCorp by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 1,890 shares during the period. Cresset Asset Management LLC increased its holdings in KeyCorp by 6.5% in the second quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 926 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in KeyCorp in the second quarter valued at about $186,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Company Profile

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.