The Goldman Sachs Group Cuts KeyCorp (NYSE:KEY) Price Target to $27.00

KeyCorp (NYSE:KEYGet Rating) had its price objective decreased by analysts at The Goldman Sachs Group from $30.00 to $27.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 28.39% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler cut their price objective on shares of KeyCorp from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 2nd. Credit Suisse Group raised shares of KeyCorp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 8th. UBS Group began coverage on shares of KeyCorp in a research note on Wednesday, January 12th. They set a “buy” rating and a $32.00 target price on the stock. Jefferies Financial Group lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 11th. Finally, Barclays boosted their target price on shares of KeyCorp from $24.00 to $26.00 in a report on Monday, January 3rd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $27.19.

NYSE:KEY traded down $0.05 during mid-day trading on Friday, hitting $21.03. The stock had a trading volume of 162,231 shares, compared to its average volume of 9,528,848. The company’s 50 day simple moving average is $23.19 and its 200 day simple moving average is $23.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 0.79. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.51 and a beta of 1.32. KeyCorp has a twelve month low of $17.90 and a twelve month high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. KeyCorp had a return on equity of 15.93% and a net margin of 33.32%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. As a group, equities analysts forecast that KeyCorp will post 2.19 earnings per share for the current year.

In other news, Director Carlton L. Highsmith sold 5,362 shares of KeyCorp stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $22.86, for a total value of $122,575.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Glassman Wealth Services grew its position in KeyCorp by 31.3% during the fourth quarter. Glassman Wealth Services now owns 1,778 shares of the financial services provider’s stock valued at $41,000 after buying an additional 424 shares during the period. Fagan Associates Inc. lifted its holdings in KeyCorp by 2.9% during the third quarter. Fagan Associates Inc. now owns 15,568 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 442 shares in the last quarter. Resources Investment Advisors LLC. lifted its holdings in KeyCorp by 0.7% during the fourth quarter. Resources Investment Advisors LLC. now owns 62,640 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 449 shares in the last quarter. Sonora Investment Management LLC lifted its holdings in KeyCorp by 18.6% during the third quarter. Sonora Investment Management LLC now owns 3,042 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 476 shares in the last quarter. Finally, Stevens Capital Management LP lifted its holdings in KeyCorp by 4.5% during the fourth quarter. Stevens Capital Management LP now owns 11,187 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

About KeyCorp (Get Rating)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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