KeyCorp (NYSE:KEY) Stock Price Expected to Rise, Truist Financial Analyst Says

KeyCorp (NYSE:KEY) had its price objective raised by analysts at Truist Financial from $22.00 to $23.00 in a report issued on Monday, MarketBeat reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 7.18% from the company’s previous close.

Several other brokerages have also recently issued reports on KEY. DA Davidson set a $25.00 price objective on KeyCorp in a research note on Wednesday, January 21st. Evercore ISI raised their price objective on shares of KeyCorp from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, KeyCorp has a consensus rating of “Hold” and a consensus price target of $22.68.

KeyCorp Price Performance

KeyCorp stock opened at $21.46 on Monday. The company has a fifty day simple moving average of $20.28 and a 200-day simple moving average of $18.95. The firm has a market capitalization of $23.45 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.52 and a beta of 1.09. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a 52-week low of $12.73 and a 52-week high of $22.07.

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

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently modified their holdings of KEY. Activest Wealth Management increased its position in shares of KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,404 shares in the last quarter. United Community Bank acquired a new position in KeyCorp during the third quarter valued at $27,000. Maseco LLP acquired a new stake in KeyCorp during the 4th quarter worth about $27,000. GoalVest Advisory LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at about $30,000. Finally, Sachetta LLC boosted its holdings in shares of KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

About KeyCorp

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.