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

KeyCorp (NYSE:KEY) had its price target lifted by analysts at Argus from $21.00 to $25.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Argus’ target price points to a potential upside of 17.06% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Truist Financial upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the company an “underperform” rating in a report on Tuesday, January 6th. Morgan Stanley upped their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, The Goldman Sachs Group lifted their target price on shares of KeyCorp from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.63.

KeyCorp Stock Down 1.0%

Shares of KEY traded down $0.21 during trading hours on Thursday, reaching $21.36. The stock had a trading volume of 609,755 shares, compared to its average volume of 15,401,709. The firm has a 50-day simple moving average of $20.04 and a 200 day simple moving average of $18.89. KeyCorp has a 12 month low of $12.73 and a 12 month high of $22.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.53 and a beta of 1.09.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased 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 purchasing an additional 17,245,128 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 359,573 shares during the period. Invesco Ltd. grew its stake 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 buying an additional 488,730 shares in the last quarter. Capital World Investors raised its holdings 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 acquiring an additional 13,067,326 shares during the period. Finally, Franklin Resources Inc. raised its holdings 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 acquiring an additional 397,523 shares during the period. 79.69% of the stock is currently owned by 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.