KeyCorp (NYSE:KEY) Receives $18.97 Consensus Target Price from Brokerages

Shares of KeyCorp (NYSE:KEY) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.97.

Several brokerages recently issued reports on KEY. Truist Financial cut their target price on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Citigroup reissued a “buy” rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price objective on KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of KeyCorp in a research note on Thursday, April 17th.

KeyCorp Price Performance

NYSE:KEY opened at $15.32 on Wednesday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The stock has a fifty day moving average of $15.15 and a 200 day moving average of $16.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of -51.07, a P/E/G ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company posted $0.20 EPS. On average, research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has authorized a stock buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Mohit Ramani acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in KeyCorp by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock valued at $19,149,000 after buying an additional 36,424 shares in the last quarter. Truist Financial Corp increased its holdings in shares of KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after acquiring an additional 20,424 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of KeyCorp in the 4th quarter worth about $1,618,000. Proficio Capital Partners LLC bought a new position in KeyCorp in the 4th quarter worth about $1,519,000. Finally, CHURCHILL MANAGEMENT Corp grew its position in KeyCorp by 5.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock valued at $7,976,000 after purchasing an additional 26,047 shares during the last quarter. Hedge funds and other institutional investors 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.