Analysts Set KeyCorp (NYSE:KEY) Target Price at $21.79

KeyCorp (NYSE:KEY) has earned an average rating of “Hold” from the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.3333.

Several research firms have weighed in on KEY. Cowen restated a “buy” rating on shares of KeyCorp in a report on Wednesday. Stephens increased their price objective on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the company an “underperform” rating in a research note on Tuesday. Evercore ISI boosted their target price on KeyCorp from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Barclays upped their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday.

Institutional Trading of KeyCorp

Hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management grew its stake in shares of KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,404 shares during the last quarter. Tompkins Financial Corp acquired a new stake in KeyCorp in the 2nd quarter worth $26,000. United Community Bank acquired a new stake in KeyCorp in the 3rd quarter worth $27,000. GoalVest Advisory LLC bought a new position in shares of KeyCorp during the 4th quarter worth about $30,000. Finally, Sachetta LLC lifted its stake in shares of KeyCorp by 1,246.1% in the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,595 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 1.3%

NYSE:KEY opened at $21.29 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $23.26 billion, a P/E ratio of 26.28, a P/E/G ratio of 0.54 and a beta of 1.09. The stock’s 50 day moving average price is $19.27 and its 200 day moving average price is $18.61. KeyCorp has a 52 week low of $12.73 and a 52 week high of $21.74.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The company 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%. KeyCorp’s quarterly revenue was up 172.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.47) EPS. On average, research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, December 2nd. KeyCorp’s dividend payout ratio is 101.23%.

Trending Headlines about KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Yahoo: Analysts and activists are shifting the narrative after fresh management guidance and activist pressure, which investors see as supportive of strategic change and higher future earnings potential. Why The Narrative Around KeyCorp (KEY) Is Shifting After Fresh Guidance And Activist Pressure
• Positive Sentiment: Multiple price-target raises from major banks (Evercore, Goldman, TD Cowen, Wells, Barclays) have pushed upside to the mid-$20s, signaling analyst confidence in earnings traction and reinforcing buy/outperform views. Evercore PT raise to $25
• Positive Sentiment: Zacks notes KeyCorp’s strong earnings surprise history and sees the company positioned to beat consensus again, a potential near-term positive catalyst around the next report. Will KeyCorp (KEY) Beat Estimates Again?
• Positive Sentiment: KeyCorp stock recently hit a 52-week high, reflecting the market’s reception to analyst upgrades and improving fundamentals. Keycorp stock hits 52-week high
• Neutral Sentiment: JPMorgan raised its price target to $22 but kept a neutral rating, implying limited near-term upside from that house view. JPMorgan PT to $22
• Negative Sentiment: Reuters/MSN: A KeyCorp unit agreed to pay $7.77 million to resolve allegations it submitted fraudulent PPP loan forgiveness claims — a legal/operational headwind, though small relative to the bank’s market cap. KeyCorp unit to pay $7.77 million to resolve US fraud claims
• Negative Sentiment: Baird downgraded KeyCorp to underperform/strong sell and set a sub-$20 price target in separate notes, adding sell-side pressure despite other banks’ upgrades. Baird downgrades KeyCorp (KEY)

About KeyCorp

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.