KeyCorp (NYSE:KEY) Reaches New 12-Month High Following Analyst Upgrade

Shares of KeyCorp (NYSE:KEY) hit a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $21.00 to $25.00. Evercore ISI currently has an outperform rating on the stock. KeyCorp traded as high as $21.57 and last traded at $21.6450, with a volume of 2068088 shares traded. The stock had previously closed at $20.98.

A number of other analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Robert W. Baird restated an “underperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday. DA Davidson raised their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Truist Financial lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Finally, Barclays increased their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.28.

Trending Headlines about KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Evercore ISI raised its price target to $25 from $21 and kept an “outperform” rating — this implies roughly a mid‑teens upside and is a clear bullish catalyst. Evercore ISI raises PT to $25
• Positive Sentiment: Goldman Sachs lifted its target to $25 from $22 and maintained a “buy” rating — another large‑cap bank signaling the stock has ~16% upside, supporting demand. Goldman Sachs raises PT to $25
• Positive Sentiment: Barclays increased its price target to $24 from $20, and Wells Fargo raised its target to $24 and kept an “overweight” rating — additional corroboration from banks lifting upside assumptions. Barclays raises PT to $24 Wells Fargo raises PT to $24
• Positive Sentiment: Consensus across brokerages sits around a “moderate buy,” which amplifies the supportive analyst tone and can attract fund buying. Consensus moderate buy
• Positive Sentiment: The stock recently touched a 52‑week high, which can trigger momentum flows and technical buying. 52-week high report
• Neutral Sentiment: JPMorgan raised its price target to $22 from $19.50 but kept a “neutral” rating — a modest upside signal (~2%) that is less market-moving than the higher targets. JPMorgan raises PT to $22
• Negative Sentiment: Robert W. Baird downgraded KeyCorp to “underperform” and has an $18 price target — a materially lower view that represents ~16% downside and could cap upside for more conservative investors. Baird downgrades to underperform

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares in the last quarter. Geode Capital Management LLC raised its holdings in KeyCorp by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after acquiring an additional 359,573 shares during the last quarter. Invesco Ltd. lifted its position in KeyCorp by 2.4% in the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after acquiring an additional 488,730 shares in the last quarter. Capital World Investors boosted its stake 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 valued at $388,546,000 after purchasing an additional 13,067,326 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in KeyCorp by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock valued at $295,295,000 after purchasing an additional 397,523 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Up 0.8%

The stock has a fifty day simple moving average of $19.19 and a 200 day simple moving average of $18.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $23.55 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was up 172.7% on a year-over-year basis. On average, research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, December 2nd. KeyCorp’s dividend payout ratio (DPR) is presently 101.23%.

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.