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

KeyCorp (NYSE:KEY) had its price target raised by research analysts at Argus from $15.00 to $16.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Argus’ price objective points to a potential upside of 8.70% from the company’s previous close.

A number of other research firms have also weighed in on KEY. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays decreased their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. Piper Sandler increased their price target on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Wedbush reduced their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Finally, Evercore ISI increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Price Performance

KEY stock traded up $0.34 during trading hours on Friday, hitting $14.72. 9,004,496 shares of the stock traded hands, compared to its average volume of 16,162,798. The stock has a 50-day simple moving average of $14.67 and a 200 day simple moving average of $13.35. KeyCorp has a one year low of $8.53 and a one year high of $15.86. The company has a market cap of $13.65 billion, a P/E ratio of 16.54 and a beta of 1.29. 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 (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post 1.17 earnings per share for the current year.

Insider Buying and Selling at KeyCorp

In other news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the sale, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in shares of KeyCorp during the 1st quarter worth approximately $38,000. Point72 Hong Kong Ltd bought a new position in shares of KeyCorp during the 1st quarter worth approximately $40,000. Bruce G. Allen Investments LLC bought a new position in KeyCorp in the 4th quarter valued at $26,000. Sound Income Strategies LLC raised its position in KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,836 shares during the last quarter. Finally, First United Bank & Trust bought a new position in KeyCorp in the 4th quarter valued at $29,000. Institutional investors 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.