TD Cowen Increases KeyCorp (NYSE:KEY) Price Target to $21.00

KeyCorp (NYSE:KEY) had its price objective increased by investment analysts at TD Cowen from $20.00 to $21.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 12.71% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial increased their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, July 28th. Bank of America increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research report on Saturday, September 27th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Hold” and a consensus target price of $20.47.

KeyCorp Stock Performance

NYSE KEY opened at $18.63 on Friday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of -266.17, a PEG ratio of 0.65 and a beta of 1.15. The company has a fifty day moving average price of $18.58 and a 200-day moving average price of $16.96.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the sale, the chief executive officer directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock worth $3,299,664 over the last quarter. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management lifted its holdings in shares of KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of KeyCorp in the second quarter worth about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the first quarter worth about $28,000. Allworth Financial LP lifted its holdings in shares of KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,543 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in KeyCorp in the first quarter valued at approximately $34,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.