KeyCorp (NYSE:KEY) Price Target Lowered to $20.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for KeyCorp from $21.00 to $20.00, maintaining a "hold" rating on the stock, suggesting a potential upside of 7.49% from its previous close.
• KeyCorp reported $0.35 earnings per share (EPS) for the last quarter, exceeding analysts' estimates of $0.34, with revenue showing a 20.6% year-over-year increase.
• In recent insider trading, KeyCorp's CEO sold over 112,000 shares, indicating a 15.32% reduction in their ownership, while overall, insiders have sold about $3.3 million in stock over the past three months.

KeyCorp (NYSE:KEY - Get Free Report) had its target price dropped by research analysts at Jefferies Financial Group from $21.00 to $20.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's target price suggests a potential upside of 7.49% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Truist Financial raised their price target on shares of KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, July 28th. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a research note on Wednesday, July 2nd. Baird R W downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Citigroup reaffirmed a "neutral" rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, Bank of America lifted their target price on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, KeyCorp has an average rating of "Moderate Buy" and a consensus target price of $19.58.

KeyCorp Price Performance

NYSE KEY opened at $18.61 on Wednesday. The business has a 50 day simple moving average of $18.56 and a 200 day simple moving average of $16.80. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of -265.36, a PEG ratio of 0.66 and a beta of 1.15.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the business earned $0.25 EPS. KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. Analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 619,895 shares of the company's stock, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of 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 three months, insiders have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Several institutional investors have recently added to or reduced their stakes in KEY. Dakota Wealth Management lifted its position in KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider's stock valued at $477,000 after purchasing an additional 586 shares during the period. Bryn Mawr Trust Advisors LLC lifted its position in KeyCorp by 4.8% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 608 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in KeyCorp by 2.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider's stock valued at $389,000 after purchasing an additional 639 shares during the period. AlphaCore Capital LLC lifted its position in shares of KeyCorp by 5.2% during the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 651 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in shares of KeyCorp by 34.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 671 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

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.

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