KeyCorp (NYSE:KEY) Given “Overweight” Rating at Stephens

KeyCorp (NYSE:KEY)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $26.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 18.53% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on KEY. Robert W. Baird boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Argus raised KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Truist Financial boosted their target price on KeyCorp from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. UBS Group lifted their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Stock Up 0.4%

Shares of NYSE KEY opened at $21.94 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. The company has a market cap of $23.41 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The firm’s 50-day simple moving average is $22.56 and its 200 day simple moving average is $21.76.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. KeyCorp’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. On average, research analysts expect that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Large investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in shares of KeyCorp in the second quarter worth $30,000. Silvant Capital Management LLC acquired a new stake in KeyCorp in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new stake in KeyCorp in the 2nd quarter valued at $31,000. Smithfield Trust Co bought a new stake in KeyCorp during the 4th quarter worth about $31,000. Finally, MCF Advisors LLC lifted its position in KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after buying an additional 456 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.