KeyCorp (NYSE:KEY) Price Target Lowered to $18.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for KeyCorp from $20.00 to $18.00, while maintaining a "hold" rating, indicating a potential upside of 6.13% from its current price.
• KeyCorp's recent earnings report showed $0.41 earnings per share, surpassing analyst estimates, and revenue increased by 172.7% year-over-year.
• Overall, ten analysts rate KeyCorp as a "Buy," ten as "Hold," and one as "Sell," with a consensus target price of $20.75.

KeyCorp (NYSE:KEY - Get Free Report) had its price target cut by stock analysts at Jefferies Financial Group from $20.00 to $18.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price objective would indicate a potential upside of 6.13% from the stock's current price.

Several other equities research analysts have also recently weighed in on KEY. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price for the company. in a research report on Wednesday, July 2nd. UBS Group increased their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Truist Financial cut their price objective on shares of KeyCorp from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Friday. Citigroup reiterated a "neutral" rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of KeyCorp from $20.50 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.75.

KeyCorp Stock Up 1.1%

KEY opened at $16.96 on Friday. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm's fifty day moving average is $18.56 and its 200 day moving average is $17.07.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business's quarterly revenue was up 172.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. On average, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were 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 of the company's stock, valued at approximately $1,544,363.73. The trade was a 17.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,102 shares of company stock worth $3,299,664. Corporate insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KEY. Sequoia Financial Advisors LLC raised its stake in shares of KeyCorp by 4.8% during the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after purchasing an additional 3,145 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of KeyCorp during the first quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC purchased a new stake in shares of KeyCorp during the second quarter valued at approximately $431,000. Gradient Investments LLC purchased a new stake in shares of KeyCorp during the second quarter valued at approximately $1,973,000. Finally, AQR Capital Management LLC raised its stake in shares of KeyCorp by 5.1% during the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider's stock valued at $6,495,000 after purchasing an additional 20,429 shares during the period. 79.69% of the stock is currently owned by hedge funds and other 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.

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