KeyCorp (NYSE:KEY) Price Target Raised to $21.00 at TD Cowen

Key Points

• TD Cowen has raised KeyCorp's price target from $20.00 to $21.00, indicating a potential upside of 12.71% from its previous close, while maintaining a "hold" rating.
• KeyCorp's recent earnings report showed a 20.6% increase in revenue year-over-year, with earnings per share of $0.35, surpassing analysts' expectations.
• Insiders have recently sold a significant amount of shares, with CEO Christopher M. Gorman selling over 112,000 shares, reflecting a 15.32% decrease in his position.

KeyCorp (NYSE:KEY - Get Free Report) had its price target increased by investment analysts at TD Cowen from $20.00 to $21.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has a "hold" rating on the financial services provider's stock. TD Cowen's price objective suggests a potential upside of 12.71% from the stock's previous close.

Several other analysts also recently issued reports on KEY. Citigroup restated a "neutral" rating and issued a $20.00 price target (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Jefferies Financial Group dropped their price objective on shares of KeyCorp from $21.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday, September 24th. Robert W. Baird lowered KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective on the stock. in a research note on Wednesday, July 2nd. Bank of America boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, DA Davidson lifted their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.47.

KeyCorp Stock Up 1.0%

Shares of KeyCorp stock opened at $18.63 on Friday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $20.43 billion, a P/E ratio of -266.17, a price-to-earnings-growth ratio of 0.65 and a beta of 1.15. The business has a 50-day moving average of $18.58 and a two-hundred day moving average of $16.96.

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. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Transactions at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock worth $3,299,664 in the last quarter. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of KeyCorp by 6.3% during the 3rd quarter. GAMMA Investing LLC now owns 37,507 shares of the financial services provider's stock worth $701,000 after acquiring an additional 2,235 shares during the last quarter. Praxis Investment Management Inc. raised its position in KeyCorp by 11.1% during the third quarter. Praxis Investment Management Inc. now owns 40,137 shares of the financial services provider's stock valued at $750,000 after purchasing an additional 3,997 shares in the last quarter. Capital A Wealth Management LLC lifted its stake in KeyCorp by 252.8% during the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider's stock worth $39,000 after purchasing an additional 1,603 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of KeyCorp by 6.3% during the 2nd quarter. Osaic Holdings Inc. now owns 209,636 shares of the financial services provider's stock valued at $3,649,000 after purchasing an additional 12,510 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of KeyCorp by 49.5% during the 2nd quarter. Centaurus Financial Inc. now owns 10,909 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 3,613 shares during the last quarter. Institutional investors 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.

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