KeyCorp (NYSE:KEY) Price Target Lowered to $22.00 at Truist Financial

KeyCorp (NYSE:KEY) had its target price dropped by equities research analysts at Truist Financial from $23.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 10.45% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Argus upped their price objective on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Wednesday, December 31st. Barclays increased their price target on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. raised their price target on KeyCorp from $22.00 to $24.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.97.

KeyCorp Price Performance

KEY stock traded up $0.51 during mid-day trading on Monday, hitting $19.92. The company had a trading volume of 2,095,394 shares, compared to its average volume of 16,855,838. The company has a 50-day moving average price of $21.09 and a 200 day moving average price of $19.67. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.58 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 quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion during 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 quarterly revenue was up 131.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. On average, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction on 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 completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 in the last quarter. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. DV Equities LLC purchased a new stake in KeyCorp in the 4th quarter valued at about $27,000. Maseco LLP purchased a new position in shares of KeyCorp during the fourth quarter worth approximately $27,000. United Community Bank purchased a new position in shares of KeyCorp during the third quarter worth approximately $27,000. GoalVest Advisory LLC bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $30,000. Finally, Smithfield Trust Co bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $31,000. Hedge funds and other 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.