KeyCorp (NYSE:KEY) Price Target Increased to $16.00 by Analysts at Argus

KeyCorp (NYSE:KEY) had its price objective lifted by Argus from $15.00 to $16.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

KEY has been the subject of several other research reports. Evercore ISI upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Wedbush decreased their target price on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating for the company in a research report on Friday, January 19th. Jefferies Financial Group upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a buy rating in a research report on Monday, April 8th. Morgan Stanley upped their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Piper Sandler upped their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, KeyCorp presently has an average rating of Moderate Buy and an average target price of $15.71.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $14.63 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The firm has a 50-day simple moving average of $14.69 and a 200 day simple moving average of $13.38. The company has a market cap of $13.57 billion, a PE ratio of 18.52 and a beta of 1.29.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business 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 company earned $0.44 EPS. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that KeyCorp will post 1.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. lifted its position in KeyCorp by 10.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 48,155 shares of the financial services provider’s stock worth $761,000 after buying an additional 4,705 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in KeyCorp by 3.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after buying an additional 742 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in KeyCorp by 1.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 704 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in KeyCorp by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,987 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 1,093 shares in the last quarter. Finally, First Bank & Trust purchased a new stake in KeyCorp in the 1st quarter worth approximately $210,000. Hedge funds and other 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.