KeyCorp (NYSE:KEY) Stock Rating Upgraded by TD Cowen

KeyCorp (NYSE:KEY) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $24.00 price target on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 17.10% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. Royal Bank Of Canada boosted their price target on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Truist Financial decreased their target price on KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Finally, Wells Fargo & Company upped 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. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.91.

KeyCorp Stock Up 2.6%

NYSE:KEY opened at $20.50 on Tuesday. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.67. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $17.99 and a 200-day simple moving average of $17.91.

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. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business’s revenue for the quarter was up 172.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. Analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in KEY. Activest Wealth Management grew its stake 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 last quarter. Tompkins Financial Corp purchased a new position in shares of KeyCorp in the 2nd quarter worth approximately $26,000. United Community Bank bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $27,000. Zions Bancorporation National Association UT bought a new position in shares of KeyCorp during the 1st quarter worth approximately $28,000. Finally, Sachetta LLC lifted its position in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,595 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.