KeyCorp (NYSE:KEY) Given New $24.00 Price Target at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY) had its target price upped by research analysts at Keefe, Bruyette & Woods from $21.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.36% from the stock’s current price.

KEY has been the subject of a number of other research reports. Jefferies Financial Group upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. UBS Group increased their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. TD Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, December 9th. Finally, Piper Sandler increased their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.44.

KeyCorp Price Performance

Shares of NYSE KEY traded up $0.23 during mid-day trading on Wednesday, reaching $20.81. The company’s stock had a trading volume of 7,994,543 shares, compared to its average volume of 19,126,744. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.89. The stock has a fifty day moving average of $18.15 and a two-hundred day moving average of $18.06. The firm has a market capitalization of $22.74 billion, a PE ratio of 25.71, a P/E/G ratio of 0.61 and a beta of 1.11.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The firm’s revenue was up 172.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

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. Kingsview Wealth Management LLC boosted its holdings in shares of KeyCorp by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 568 shares during the period. Dakota Wealth Management lifted its position in KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after buying an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in KeyCorp by 4.8% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after buying an additional 608 shares during the period. NorthCrest Asset Manangement LLC increased its position in KeyCorp by 4.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 627 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its position in KeyCorp by 2.9% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 639 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.