KeyCorp’s (KEY) Buy Rating Reiterated at TD Cowen

KeyCorp (NYSE:KEY)‘s stock had its “buy” rating reiterated by analysts at TD Cowen in a research note issued to investors on Thursday, Benzinga reports. They currently have a $23.00 target price on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 16.31% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Stephens reiterated an “overweight” rating and set a $26.00 price target on shares of KeyCorp in a report on Tuesday, September 15th. Robert W. Baird raised their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. DA Davidson reiterated a “buy” rating and issued a $28.00 target price on shares of KeyCorp in a report on Wednesday, July 22nd. Finally, Citigroup reissued a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $46.33.

KeyCorp Trading Down 0.3%

Shares of KEY stock opened at $19.77 on Thursday. The stock has a 50-day simple moving average of $21.66 and a 200 day simple moving average of $21.81. KeyCorp has a fifty-two week low of $16.47 and a fifty-two week high of $24.07. The stock has a market capitalization of $21.10 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.76 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts expect that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KeyCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 522 shares during the period. Investors Asset Management of Georgia Inc. GA ADV increased its stake in KeyCorp by 1.7% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 556 shares during the period. V Square Quantitative Management LLC lifted its position in KeyCorp by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 567 shares during the last quarter. CX Institutional lifted its position in KeyCorp by 4.6% in the second quarter. CX Institutional now owns 13,346 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 581 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of KeyCorp by 2.5% during the first quarter. Bleakley Financial Group LLC now owns 24,191 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 583 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.