KeyCorp (NYSE:KEY) Price Target Raised to $25.00

KeyCorp (NYSE:KEY) had its target price hoisted by stock analysts at The Goldman Sachs Group from $22.00 to $25.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 17.48% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. UBS Group lifted their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada increased their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Piper Sandler raised their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on KeyCorp from $19.50 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.28.

KeyCorp Stock Performance

KEY opened at $21.28 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average price is $19.11 and its two-hundred day moving average price is $18.55. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.52 and a beta of 1.09. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.74.

KeyCorp (NYSE:KEY) 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. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.47) EPS. Equities analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of KeyCorp during the fourth quarter worth $476,000. AQR Capital Management LLC boosted its position in shares of KeyCorp by 5.1% in the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock worth $6,495,000 after buying an additional 20,429 shares during the period. Alliancebernstein L.P. increased its holdings in KeyCorp by 4.4% during the 1st quarter. Alliancebernstein L.P. now owns 1,233,478 shares of the financial services provider’s stock worth $19,723,000 after purchasing an additional 51,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in KeyCorp by 218.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 308,683 shares of the financial services provider’s stock worth $4,936,000 after purchasing an additional 211,780 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of KeyCorp by 3.7% in the 1st quarter. NewEdge Advisors LLC now owns 95,676 shares of the financial services provider’s stock worth $1,530,000 after acquiring an additional 3,370 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

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.