KeyCorp (NYSE:KEY) Reaches New 52-Week High After Analyst Upgrade

KeyCorp (NYSE:KEY) reached a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $22.00 to $24.50. JPMorgan Chase & Co. currently has a neutral rating on the stock. KeyCorp traded as high as $23.35 and last traded at $23.03, with a volume of 11993627 shares trading hands. The stock had previously closed at $23.21.

A number of other brokerages have also recently commented on KEY. Jefferies Financial Group increased their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Robert W. Baird downgraded shares of KeyCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Evercore raised their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Barclays upped their price target on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.03.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the sale, the insider directly owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 161,506 shares of company stock valued at $3,597,481 over the last quarter. 0.52% of the stock is owned by insiders.

Key Stories Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: JPMorgan raised its price target on KEY from $22.00 to $24.50 and kept a “neutral” rating, signaling modest upside and providing support for the recent rally. JPMorgan price target raise
• Positive Sentiment: Activist HoldCo said it will not pursue proxy fights at KeyCorp after the bank agreed to key changes, removing a governance overhang and reducing activist-driven uncertainty. Activist HoldCo backs off
• Positive Sentiment: KeyBank expanded its middle‑market capabilities by adding a five‑person family office and private capital team led by Ward Nixon, highlighting strategic growth initiatives in higher‑margin commercial banking. KeyBank family office hire
• Positive Sentiment: Observers flagged KeyCorp reaching a new 1‑year high after analyst coverage improvements, a driver of recent momentum but also of near‑term profit taking. KeyCorp reaches new 1-year high
• Neutral Sentiment: Management presented at recent industry conferences (UBS and Bank of America); transcripts are available — useful for investors who want updated management commentary on strategy, capital deployment and loan growth, but they contained no headline surprises. UBS presentation BofA transcript
• Negative Sentiment: Insider Andrew J. Paine III sold 65,961 shares at an average price of $23.23 (about $1.53M), reducing his stake by ~28%. Large insider selling can trigger near‑term selling pressure and raise investor caution even if disclosed as routine. Insider sale disclosure

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently made changes to their positions in the stock. Activest Wealth Management raised its position in KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares during the period. United Community Bank acquired a new stake in shares of KeyCorp in the third quarter valued at $27,000. Maseco LLP purchased a new stake in shares of KeyCorp in the 4th quarter valued at $27,000. GoalVest Advisory LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at $30,000. Finally, Smithfield Trust Co acquired a new position in KeyCorp during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.3%

The company has a market capitalization of $25.08 billion, a PE ratio of 15.10, a PEG ratio of 0.56 and a beta of 1.10. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $21.13 and a 200 day moving average of $19.23.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 131.8% on a year-over-year basis. Equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

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.