Truist Financial Lowers KeyCorp (NYSE:KEY) Price Target to $23.00

KeyCorp (NYSE:KEY) had its target price lowered by investment analysts at Truist Financial from $24.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 12.55% from the stock’s current price.

KEY has been the topic of several other reports. Royal Bank Of Canada boosted their price target on KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. TD Cowen reiterated a “buy” rating and set a $68.00 target price on shares of KeyCorp in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Wells Fargo & Company upped their price target on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

KeyCorp Price Performance

Shares of NYSE KEY traded down $0.04 during mid-day trading on Wednesday, hitting $20.44. 5,388,050 shares of the stock traded hands, compared to its average volume of 13,386,942. The company has a market cap of $21.81 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. KeyCorp has a twelve month low of $16.47 and a twelve month high of $24.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $22.29 and a two-hundred day simple moving average of $21.76.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently bought and sold shares of KEY. N.E.W. Advisory Services LLC acquired a new position in shares of KeyCorp during the second quarter worth approximately $30,000. Silvant Capital Management LLC acquired a new stake in KeyCorp in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new stake in KeyCorp during the 2nd quarter valued at $31,000. Smithfield Trust Co bought a new stake in KeyCorp during the 4th quarter valued at $31,000. Finally, MCF Advisors LLC raised its holdings in KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after buying an additional 456 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.