JPMorgan Chase & Co. Issues Pessimistic Forecast for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $24.50 to $22.50 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.30% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Argus increased their price target on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Evercore reduced their price objective on KeyCorp from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Wells Fargo & Company set a $18.00 target price on KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.61.

KeyCorp Stock Down 0.4%

Shares of NYSE KEY opened at $20.59 on Tuesday. The firm’s 50-day simple moving average is $20.83 and its 200 day simple moving average is $19.75. The company has a market cap of $22.08 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 0.66 and a beta of 1.07. 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 has a 12-month low of $12.78 and a 12-month high of $23.34.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.30 EPS. The company’s quarterly revenue was up 131.8% compared to the same quarter last year. On average, research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director owned 58,719 shares in the company, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the transaction, the insider directly owned 166,583 shares in the company, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its stake in KeyCorp by 1.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 229,568 shares of the financial services provider’s stock worth $4,738,000 after acquiring an additional 4,266 shares during the last quarter. World Investment Advisors raised its holdings in KeyCorp by 55.5% in the fourth quarter. World Investment Advisors now owns 22,381 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 7,987 shares during the period. Demming Financial Services Corp ADV bought a new position in shares of KeyCorp during the fourth quarter worth $971,000. Tempo Wealth LLC bought a new position in shares of KeyCorp during the fourth quarter worth $470,000. Finally, Virtu Financial LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $789,000. Institutional investors own 79.69% of the company’s stock.

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.