KeyCorp (NYSE:KEY) Price Target Raised to $22.00

by · The Cerbat Gem

KeyCorp (NYSE:KEY – Get Free Report) had its target price boosted by JPMorgan Chase & Co. from $19.50 to $22.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 3.38% from the company’s current price.

A number of other brokerages also recently weighed in on KEY. Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, December 9th. Barclays upped their price objective on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup restated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Keefe, Bruyette & Woods increased their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Evercore ISI raised their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.28.

Get Our Latest Stock Report on KEY

KeyCorp Stock Performance

Shares of KEY opened at $21.28 on Tuesday. The company has a market cap of $23.26 billion, a PE ratio of 26.33, a P/E/G ratio of 0.52 and a beta of 1.09. The stock has a 50-day moving average of $19.11 and a 200-day moving average of $18.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. KeyCorp has a one year low of $12.73 and a one year high of $21.74.

KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was up 172.7% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Institutional Trading of KeyCorp

Several institutional investors have recently made changes to their positions in the stock. Activest Wealth Management lifted 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 worth $25,000 after purchasing an additional 1,404 shares during the period. Tompkins Financial Corp acquired a new stake in KeyCorp during the second quarter worth approximately $26,000. United Community Bank acquired a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $30,000. Finally, Sachetta LLC grew its stake in shares of KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,595 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

About KeyCorp

(Get Free Report)

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.

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