Truist Financial Has Lowered Expectations for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY) had its target price decreased by equities research analysts at Truist Financial from $20.00 to $19.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 12.03% from the company’s previous close.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Evercore ISI upped their price target on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Jefferies Financial Group cut their price target on KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, September 24th. Citigroup reiterated a “neutral” rating and set a $20.00 target price (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Ten 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. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Hold” and a consensus price target of $20.86.

KeyCorp Stock Performance

KeyCorp stock opened at $16.96 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $18.60 billion, a P/E ratio of 20.94, a PEG ratio of 0.54 and a beta of 1.15. The stock’s 50 day moving average is $18.56 and its 200 day moving average is $17.07. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) EPS. On average, equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,102 shares of company stock worth $3,299,664. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of KEY. Price T Rowe Associates Inc. MD boosted its stake in shares of KeyCorp by 40.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock worth $814,756,000 after buying an additional 14,651,281 shares during the last quarter. Norges Bank purchased a new position in shares of KeyCorp in the 2nd quarter worth $195,642,000. Vanguard Group Inc. boosted its stake in shares of KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after buying an additional 8,412,625 shares during the last quarter. HoldCo Asset Management LP purchased a new position in shares of KeyCorp in the 2nd quarter worth $86,995,000. Finally, Wellington Management Group LLP boosted its stake in shares of KeyCorp by 1,142.4% in the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider’s stock worth $79,978,000 after buying an additional 4,599,197 shares during the last quarter. 79.69% of the stock is currently 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.