KeyCorp (NYSE:KEY) Given New $20.00 Price Target at Barclays

KeyCorp (NYSE:KEY) had its price target cut by Barclays from $21.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 43.93% from the company’s current price.

Several other equities analysts also recently commented on the company. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a research note on Thursday. Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Baird R W upgraded shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Truist Financial reduced their target price on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.44.

KeyCorp Stock Down 2.6 %

Shares of NYSE:KEY traded down $0.37 during mid-day trading on Monday, hitting $13.90. 3,138,681 shares of the company traded hands, compared to its average volume of 12,941,871. The stock has a 50-day moving average price of $15.75 and a two-hundred day moving average price of $17.14. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The stock has a market cap of $15.23 billion, a P/E ratio of -46.32, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the previous year, the business posted $0.20 EPS. On average, equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. boosted its stake in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new stake in KeyCorp during the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the 4th quarter worth $34,000. Finally, TCTC Holdings LLC increased its holdings in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after buying an additional 611 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

About KeyCorp

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.