KeyCorp (NYSE:KEY) Price Target Raised to $26.00

KeyCorp (NYSE:KEY) had its price objective boosted by equities researchers at Morgan Stanley from $24.00 to $26.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 24.13% from the company’s previous close.

KEY has been the topic of several other reports. Truist Financial upped their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 26th. Piper Sandler upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Barclays increased their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $23.03.

KeyCorp Stock Performance

KeyCorp stock traded up $0.21 during trading on Monday, hitting $20.95. The stock had a trading volume of 3,284,037 shares, compared to its average volume of 16,538,842. The stock’s 50 day moving average is $21.51 and its two-hundred day moving average is $19.58. KeyCorp has a 1 year low of $12.73 and a 1 year high of $23.34. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s revenue was up 131.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Transactions at KeyCorp

In other news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the transaction, the insider owned 166,583 shares in the company, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares of the company’s stock, valued at $5,633,493.25. The trade was a 19.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 161,506 shares of company stock worth $3,597,481. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

Large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of KeyCorp during the fourth quarter worth about $476,000. Woodline Partners LP raised its position in KeyCorp by 41.4% during the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after purchasing an additional 24,627 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in KeyCorp by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 141,524 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 5,724 shares during the period. World Investment Advisors grew its position in shares of KeyCorp by 20.4% in the 2nd quarter. World Investment Advisors now owns 14,955 shares of the financial services provider’s stock worth $261,000 after buying an additional 2,533 shares during the last quarter. Finally, Keybank National Association OH increased its stake in shares of KeyCorp by 24.5% during the second quarter. Keybank National Association OH now owns 16,829 shares of the financial services provider’s stock valued at $293,000 after buying an additional 3,312 shares during the period. Institutional investors 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.