KeyCorp (NYSE:KEY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

KeyCorp (NYSE:KEY) had its target price raised by equities research analysts at Morgan Stanley from $24.00 to $26.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 24.13% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Jefferies Financial Group boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Truist Financial increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Wednesday, December 31st. Finally, Royal Bank Of Canada boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.03.

KeyCorp Price Performance

Shares of KEY stock traded up $0.21 on Monday, hitting $20.95. 3,284,037 shares of the company’s stock were exchanged, compared to its average volume of 16,538,842. The stock has a market cap of $22.82 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34. The company has a 50 day moving average of $21.51 and a 200 day moving average of $19.58.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $5.45 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 firm’s revenue was up 131.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 161,506 shares of company stock worth $3,597,481 in the last quarter. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently modified their holdings of the stock. United Community Bank purchased a new stake in KeyCorp in the 3rd quarter valued at $27,000. Maseco LLP bought a new position in shares of KeyCorp during the 4th quarter worth approximately $27,000. DV Equities LLC bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC bought a new stake in KeyCorp during the fourth quarter worth $30,000. Finally, Smithfield Trust Co purchased a new position in KeyCorp in the fourth quarter worth $31,000. 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.