KeyCorp (NYSE:KEY) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• KeyCorp shares have a consensus analyst rating of “Moderate Buy”, based on coverage from 20 brokerages. The average 12-month price target is about $23.18.
• Several analysts recently raised their price targets on KeyCorp, including Argus, RBC, Goldman Sachs, and Piper Sandler, while Weiss Ratings upgraded the stock from hold to buy.
• KeyCorp reported better-than-expected quarterly results, with EPS of $0.44 versus $0.41 expected and revenue of $1.95 billion, up 10.2% from a year earlier.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.1842.

A number of research analysts have weighed in on the company. Argus raised their price objective on KeyCorp from $21.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on KeyCorp from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, April 17th. The Goldman Sachs Group raised their price objective on KeyCorp from $25.00 to $26.00 and gave the company a "buy" rating in a report on Friday, April 17th. Piper Sandler raised their price objective on KeyCorp from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Finally, Weiss Ratings upgraded KeyCorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. United Community Bank purchased a new position in KeyCorp in the 3rd quarter valued at $27,000. Maseco LLP purchased a new position in KeyCorp in the 4th quarter valued at $27,000. DV Equities LLC purchased a new position in KeyCorp in the 4th quarter valued at $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp in the 4th quarter valued at $30,000. Finally, Smithfield Trust Co purchased a new position in KeyCorp in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

KeyCorp stock opened at $21.61 on Friday. The company's fifty day moving average price is $20.72 and its 200 day moving average price is $20.27. KeyCorp has a 1 year low of $15.28 and a 1 year high of $23.34. The stock has a market capitalization of $23.42 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the company earned $0.38 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that KeyCorp will post 1.82 earnings per share for the current fiscal year.

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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