KeyCorp (NYSE:KEY) Price Target Raised to $27.00 at DA Davidson

Key Points

• DA Davidson raised its price target on KeyCorp from $26 to $27 and maintained a "buy" rating, implying a potential 24.38% upside from the prior close.
• Street sentiment is mixed but positive: 12 analysts rate KEY a Buy, 7 Hold and 1 Sell, with an average price target of $23.18 (consensus "Moderate Buy"), placing DA Davidson's target above the street average.
• KeyCorp recently beat quarterly estimates, reporting EPS of $0.44 versus $0.41 expected and revenue of $1.95B (up 10.2% year‑over‑year).

KeyCorp (NYSE:KEY - Get Free Report) had its target price increased by investment analysts at DA Davidson from $26.00 to $27.00 in a research note issued on Monday,MarketScreener reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's target price points to a potential upside of 24.38% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their price target on KeyCorp from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Evercore restated an "outperform" rating on shares of KeyCorp in a research note on Tuesday, April 21st. Weiss Ratings raised shares of KeyCorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 25th. The Goldman Sachs Group increased their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, Truist Financial lowered their price target on shares of KeyCorp from $23.00 to $22.00 and set a "hold" rating on the stock in a research report on Monday, March 23rd. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.18.

KeyCorp Trading Down 0.7%

NYSE:KEY opened at $21.71 on Monday. KeyCorp has a 12 month low of $15.14 and a 12 month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average is $20.69 and its 200 day moving average is $20.16. The stock has a market capitalization of $23.28 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.70 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.KeyCorp's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. Sell-side analysts expect that KeyCorp will post 1.82 earnings per share for the current year.

Insider Activity

In related news, insider Andrew J. Paine III sold 65,961 shares of the business's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the sale, the insider directly owned 166,583 shares in the company, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider's stock worth $679,768,000 after buying an additional 17,245,128 shares in the last quarter. Capital World Investors grew its stake in KeyCorp by 169.2% during the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider's stock valued at $388,546,000 after acquiring an additional 13,067,326 shares in the last quarter. Norges Bank bought a new stake in KeyCorp during the 4th quarter worth approximately $262,688,000. Eurizon Capital SGR S.p.A. bought a new stake in KeyCorp during the 4th quarter worth approximately $150,843,000. Finally, AQR Capital Management LLC lifted its stake in KeyCorp by 416.3% in the 4th quarter. AQR Capital Management LLC now owns 7,163,851 shares of the financial services provider's stock worth $147,862,000 after purchasing an additional 5,776,417 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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