Stephens Raises KeyCorp (NYSE:KEY) Price Target to $23.00

KeyCorp (NYSE:KEY) had its price target lifted by stock analysts at Stephens from $21.00 to $23.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 9.58% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. TD Cowen raised KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, December 9th. DA Davidson increased their target price on KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of KeyCorp in a report on Monday. Jefferies Financial Group upped their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company lifted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

KeyCorp Stock Up 0.2%

Shares of NYSE KEY opened at $20.99 on Thursday. The company has a market cap of $22.94 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 0.62 and a beta of 1.11. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 12 month low of $12.73 and a 12 month high of $21.11. The stock has a 50-day moving average price of $18.34 and a two-hundred day moving average price of $18.14.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $1.90 billion during 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 firm’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.47) EPS. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

A number of large investors have recently modified their holdings of KEY. Kingsview Wealth Management LLC boosted its stake in KeyCorp by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after buying an additional 568 shares in the last quarter. Dakota Wealth Management lifted its holdings in shares of KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in shares of KeyCorp by 4.8% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 608 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of KeyCorp by 4.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 627 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of KeyCorp by 2.9% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 639 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.