KeyCorp (NYSE:KEY) PT Raised to $18.00

KeyCorp (NYSE:KEY) had its price target upped by equities research analysts at Wedbush from $17.00 to $18.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price target indicates a potential upside of 9.89% from the stock’s previous close. Wedbush also issued estimates for KeyCorp’s Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.04 EPS and FY2026 earnings at $1.65 EPS.

KEY has been the subject of a number of other reports. Morgan Stanley boosted their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Citigroup increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. DA Davidson raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Evercore ISI dropped their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

KeyCorp Stock Down 1.4 %

Shares of KEY stock opened at $16.38 on Tuesday. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.39. The firm has a market capitalization of $15.45 billion, a PE ratio of 20.73, a P/E/G ratio of 0.93 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $16.09 and its 200-day simple moving average is $15.13.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities analysts expect that KeyCorp will post 1.1 earnings per share for the current year.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently modified their holdings of KEY. Valeo Financial Advisors LLC lifted its holdings in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 704 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 724 shares during the period. Caldwell Sutter Capital Inc. increased its position in shares of KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 742 shares during the last quarter. Czech National Bank raised its holdings in KeyCorp by 0.5% in the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after buying an additional 788 shares during the period. Finally, CWM LLC lifted its position in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after buying an additional 837 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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.