KeyCorp (NYSE:KEY) Price Target Lowered to $18.00 at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY) had its price objective decreased by Keefe, Bruyette & Woods from $20.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 30.15% from the stock’s previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their target price on KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Truist Financial cut their price objective on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Barclays decreased their target price on KeyCorp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada restated an “outperform” rating on shares of KeyCorp in a report on Thursday. Finally, Stephens reissued an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.26.

KeyCorp Trading Down 3.1 %

Shares of KeyCorp stock traded down $0.44 on Monday, reaching $13.83. The company had a trading volume of 4,948,747 shares, compared to its average volume of 12,948,508. The firm’s 50-day moving average price is $15.75 and its two-hundred day moving average price is $17.14. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of -46.10, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

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

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

Insider Transactions at KeyCorp

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

Institutional Trading of KeyCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its holdings in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC acquired a new stake in KeyCorp during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of KeyCorp in the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of KeyCorp in the fourth quarter worth $34,000. Finally, TCTC Holdings LLC raised its holdings in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.