KeyCorp (NYSE:KEY) Receives $20.75 Average Price Target from Analysts

KeyCorp (NYSE:KEY) has been given an average recommendation of “Hold” by the twenty-one ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.75.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Jefferies Financial Group cut their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Morgan Stanley upped their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Royal Bank Of Canada upped their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Truist Financial cut their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, October 17th.

Insiders Place Their Bets

In related news, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in KeyCorp by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after acquiring an additional 8,412,625 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in KeyCorp by 40.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock worth $814,756,000 after acquiring an additional 14,651,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock worth $487,882,000 after acquiring an additional 3,327,972 shares in the last quarter. Geode Capital Management LLC grew its holdings in KeyCorp by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after acquiring an additional 359,573 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in KeyCorp by 2.4% during the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock worth $367,783,000 after acquiring an additional 488,730 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $17.83 on Wednesday. The company’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $17.23. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

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

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.