KeyCorp (NYSE:KEY) Price Target Raised to $16.00

KeyCorp (NYSE:KEY) had its price target increased by equities researchers at Argus from $15.00 to $16.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Argus’ target price would suggest a potential upside of 8.70% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. DA Davidson decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Piper Sandler boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Evercore ISI boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Morgan Stanley boosted their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Price Performance

Shares of KEY traded up $0.34 during trading hours on Friday, reaching $14.72. 9,004,496 shares of the stock traded hands, compared to its average volume of 16,162,798. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $13.35. The company has a market cap of $13.65 billion, a P/E ratio of 16.54 and a beta of 1.29.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. On average, analysts anticipate that KeyCorp will post 1.17 earnings per share for the current year.

Insider Activity at KeyCorp

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock valued at $303,914 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. increased its stake in shares of KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 742 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 704 shares during the period. Allspring Global Investments Holdings LLC grew its position in KeyCorp by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,987 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 1,093 shares during the period. First Bank & Trust acquired a new stake in KeyCorp during the first quarter valued at $210,000. Finally, Register Financial Advisors LLC grew its position in KeyCorp by 31.4% during the first quarter. Register Financial Advisors LLC now owns 10,543 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,522 shares during the period. Institutional investors and hedge funds 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.