KeyCorp (NYSE:KEY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

KeyCorp (NYSE:KEY) had its price target increased by equities researchers at The Goldman Sachs Group from $25.00 to $26.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 22.73% from the company’s previous close.

KEY has been the topic of a number of other reports. Jefferies Financial Group increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Barclays increased their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Finally, Piper Sandler boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.63.

KeyCorp Stock Down 1.8%

Shares of KeyCorp stock traded down $0.39 during trading on Wednesday, reaching $21.18. The company’s stock had a trading volume of 2,389,106 shares, compared to its average volume of 15,498,045. The company has a 50-day simple moving average of $20.04 and a two-hundred day simple moving average of $18.89. KeyCorp has a 1-year low of $12.73 and a 1-year high of $22.07. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.53 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business’s revenue for the quarter was up 131.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Institutional Trading of KeyCorp

A number of hedge funds have recently bought and sold shares of KEY. Wellington Management Group LLP boosted its holdings in KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after acquiring an additional 17,245,128 shares during the period. Capital World Investors lifted its holdings in KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after buying an additional 13,067,326 shares in the last quarter. Norges Bank acquired a new position in shares of KeyCorp in the second quarter worth $195,642,000. HoldCo Asset Management LP purchased a new stake in shares of KeyCorp during the second quarter worth $86,995,000. Finally, JPMorgan Chase & Co. raised its stake in shares of KeyCorp by 123.4% in the second quarter. JPMorgan Chase & Co. now owns 7,182,671 shares of the financial services provider’s stock valued at $125,122,000 after acquiring an additional 3,967,544 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

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.