KeyCorp (NYSE:KEY) Given New $27.00 Price Target at DA Davidson

KeyCorp (NYSE:KEY) had its price target raised by analysts at DA Davidson from $26.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 27.99% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Argus upgraded shares of KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Jefferies Financial Group dropped their target price on shares of KeyCorp from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Morgan Stanley lifted their target price on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. UBS Group decreased their target price on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Royal Bank Of Canada lowered their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.22.

KeyCorp Stock Performance

NYSE:KEY traded up $0.28 during mid-day trading on Wednesday, reaching $21.09. The company’s stock had a trading volume of 8,952,588 shares, compared to its average volume of 13,763,769. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market cap of $22.51 billion, a P/E ratio of 12.26, a PEG ratio of 0.75 and a beta of 1.08. The firm’s fifty day moving average price is $21.17 and its two-hundred day moving average price is $21.83. KeyCorp has a 12-month low of $16.91 and a 12-month high of $24.07.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of KeyCorp by 3.6% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 33,181 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 1,140 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in KeyCorp by 3.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 117,064 shares of the financial services provider’s stock worth $2,349,000 after acquiring an additional 4,302 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in KeyCorp by 13.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,695 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 550 shares in the last quarter. V Square Quantitative Management LLC raised its stake in KeyCorp by 14.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 29,293 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 3,638 shares during the period. Finally, Krilogy Financial LLC raised its stake in KeyCorp by 7.0% during the 3rd quarter. Krilogy Financial LLC now owns 10,927 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 713 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Earnings beat and record revenue: KeyCorp reported $0.51 in diluted EPS, above the $0.46 consensus estimate and up 24% year over year. Revenue reached a record $2.04 billion, an 8% annual increase. KeyCorp third-quarter earnings release
• Positive Sentiment: Improving core banking trends: Net interest margin expanded to 2.95%, net interest income rose 9.8% year over year, and average deposits increased $3.6 billion sequentially versus $1.5 billion growth in average loans. Investment banking and debt-placement fees also climbed 27% sequentially. KeyCorp revenue and profit report
• Positive Sentiment: Constructive outlook and shareholder returns: Management raised full-year revenue expectations toward the upper end of its range, while targeting net interest margin above 3.25% by the fourth quarter of 2027. KeyCorp also repurchased $320 million of stock and maintained its $0.205 quarterly dividend. KeyCorp margin and NII outlook
• Positive Sentiment: More favorable analyst view: One recent Seeking Alpha analysis upgraded KeyCorp, citing attractive net interest income growth and a differentiated margin profile. KeyCorp rating upgrade analysis
• Neutral Sentiment: Scotiabank ownership remains a watch item: Bank of Nova Scotia outlined the expected contribution from its KeyCorp stake ahead of its own results, while also flagging a Chile-related tax charge. The update may affect perceptions of KeyCorp’s strategic relationship with Scotiabank but does not directly change KeyCorp’s reported quarter. Scotiabank KeyCorp contribution update
• Negative Sentiment: Valuation and execution concerns remain: Bank of America lowered its price target to $23, while commentary pointed to rising expenses and somewhat weaker capital ratios despite the earnings beat. Recent insider activity also showed sales rather than purchases, potentially tempering bullish sentiment. Bank of America KeyCorp price target cut

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.