KeyCorp (NYSE:KEY) Price Target Raised to $25.00

KeyCorp (NYSE:KEY) had its target price raised by investment analysts at The Goldman Sachs Group from $22.00 to $25.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 17.48% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Truist Financial raised their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Robert W. Baird reiterated an “underperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday. Barclays increased their price objective on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Morgan Stanley upped their price target 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. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.28.

KeyCorp Trading Down 0.4%

Shares of KEY opened at $21.28 on Tuesday. The stock has a 50 day simple moving average of $19.11 and a 200-day simple moving average of $18.55. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.74. The stock has a market cap of $23.26 billion, a PE ratio of 26.33, a PEG ratio of 0.52 and a beta of 1.09.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 172.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently made changes to their positions in the business. Kingsview Wealth Management LLC boosted its stake in shares of KeyCorp by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 568 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 586 shares during the period. Bryn Mawr Trust Advisors LLC raised its position in KeyCorp by 4.8% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after buying an additional 608 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in KeyCorp by 4.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 627 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in KeyCorp by 2.9% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 639 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.