KeyCorp (NYSE:KEY) Price Target Raised to $23.00 at Truist Financial

KeyCorp (NYSE:KEY) had its price objective upped by research analysts at Truist Financial from $22.00 to $23.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 8.67% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. UBS Group raised their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada increased their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Morgan Stanley boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. TD Cowen restated a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Finally, DA Davidson set a $25.00 price target on shares of KeyCorp in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.68.

KeyCorp Trading Up 0.3%

Shares of KeyCorp stock traded up $0.07 during trading on Monday, hitting $21.17. The stock had a trading volume of 2,711,355 shares, compared to its average volume of 15,485,470. KeyCorp has a 12 month low of $12.73 and a 12 month high of $22.07. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The firm’s fifty day simple moving average is $20.11 and its 200-day simple moving average is $18.91. The stock has a market cap of $23.13 billion, a PE ratio of 13.92, a PEG ratio of 0.51 and a beta of 1.09.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 131.8% on a year-over-year basis. As a group, sell-side analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the sale, the director directly owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently made changes to their positions in the company. Maseco LLP purchased a new stake in KeyCorp in the 4th quarter valued at $27,000. Activest Wealth Management boosted 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 valued at $25,000 after purchasing an additional 1,404 shares during the period. United Community Bank purchased a new stake in shares of KeyCorp during the third quarter worth $27,000. GoalVest Advisory LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at about $30,000. Finally, True Wealth Design LLC grew its holdings in KeyCorp by 1,263.5% during the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.