KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Piper Sandler

KeyCorp (NYSE:KEY) had its target price boosted by equities researchers at Piper Sandler from $19.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 16.09% from the company’s current price.

A number of other equities research analysts have also commented on the company. 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. Jefferies Financial Group increased their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Thursday, November 7th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Wedbush boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.56.

KeyCorp Price Performance

Shares of NYSE KEY opened at $18.95 on Tuesday. The company has a market capitalization of $18.78 billion, a PE ratio of 1,911.00, a P/E/G ratio of 1.07 and a beta of 1.25. The firm has a fifty day simple moving average of $17.88 and a 200 day simple moving average of $16.15. KeyCorp has a twelve month low of $12.76 and a twelve month high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, sell-side analysts forecast that KeyCorp will post 1.09 EPS for the current year.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of KeyCorp by 274.4% during the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after buying an additional 243,437 shares during the last quarter. Cetera Advisors LLC increased its stake in KeyCorp by 116.4% in the 1st quarter. Cetera Advisors LLC now owns 155,448 shares of the financial services provider’s stock worth $2,458,000 after acquiring an additional 83,601 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of KeyCorp by 8.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 236,774 shares of the financial services provider’s stock worth $3,683,000 after purchasing an additional 19,052 shares in the last quarter. DNB Asset Management AS lifted its holdings in KeyCorp by 11.2% in the 2nd quarter. DNB Asset Management AS now owns 147,797 shares of the financial services provider’s stock worth $2,100,000 after buying an additional 14,854 shares during the period. Finally, Mather Group LLC. increased its position in KeyCorp by 127.6% during the 2nd quarter. Mather Group LLC. now owns 10,521 shares of the financial services provider’s stock valued at $150,000 after buying an additional 5,898 shares in the last quarter. 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.