The Goldman Sachs Group Raises KeyCorp (NYSE:KEY) Price Target to $26.00

KeyCorp (NYSE:KEY) had its target price lifted by investment analysts at The Goldman Sachs Group from $25.00 to $26.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.75% from the company’s current price.

KEY has been the topic of several other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Evercore ISI increased their price target on KeyCorp from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Jefferies Financial Group increased their target price on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.63.

KeyCorp Stock Performance

KEY traded down $0.21 during midday trading on Wednesday, hitting $21.36. 609,755 shares of the company were exchanged, compared to its average volume of 15,401,709. The company’s 50 day simple moving average is $20.04 and its 200 day simple moving average is $18.89. The firm has a market capitalization of $23.34 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09. KeyCorp has a 1-year low of $12.73 and a 1-year high of $22.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.01 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%.KeyCorp’s revenue for the quarter was up 131.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. As a group, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Maseco LLP purchased a new position in KeyCorp in the 4th quarter worth approximately $27,000. Activest Wealth Management increased its holdings 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 last quarter. United Community Bank purchased a new position in KeyCorp during the third quarter worth approximately $27,000. GoalVest Advisory LLC purchased a new stake in KeyCorp in the 4th quarter valued at $30,000. Finally, True Wealth Design LLC increased its stake in shares of KeyCorp by 1,263.5% in 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 during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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.