Stephens Reiterates “Overweight” Rating for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY)‘s stock had its “overweight” rating reiterated by Stephens in a research report issued on Wednesday,Benzinga reports. They currently have a $20.00 price target on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 14.46% from the company’s current price.

A number of other equities research analysts have also recently commented on KEY. Keefe, Bruyette & Woods decreased their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada upped their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.58.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.47 on Wednesday. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The business’s fifty day simple moving average is $18.10 and its 200-day simple moving average is $17.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market cap of $17.32 billion, a PE ratio of -58.24, a PEG ratio of 0.67 and a beta of 1.27.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Several institutional investors have recently modified their holdings of the stock. Financial Advocates Investment Management lifted its stake in KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after buying an additional 602 shares in the last quarter. HM Payson & Co. raised its holdings in shares of KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 650 shares during the last quarter. Graypoint LLC lifted its position in shares of KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 675 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 692 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

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.