KeyCorp (NYSE:KEY) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• KeyCorp has received a consensus rating of "Hold" from 21 brokerages, with one analyst recommending a sell, ten assigning hold, and ten giving buy recommendations.
• The average twelve-month price target for KeyCorp's stock is $20.75, with varying targets from different analysts ranging from $18.00 to $23.00.
• Insider trading activity shows significant sales, including 17,000 shares sold by Director Trina M. Evans and 44,953 shares sold by Andrew J. Paine III, indicating a decrease in their ownership stakes.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-one brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $20.75.

Several equities research analysts have recently issued reports on the company. Robert W. Baird cut KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Wednesday, July 2nd. Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Citigroup reaffirmed 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. TD Cowen upped their price objective on KeyCorp from $20.00 to $21.00 and gave the stock a "hold" rating in a report on Friday, October 3rd. Finally, UBS Group raised their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, October 7th.

Insiders Place Their Bets

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of KEY. Activest Wealth Management lifted its position in KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider's stock worth $25,000 after buying an additional 1,404 shares during the last quarter. Tompkins Financial Corp purchased a new stake in shares of KeyCorp in the second quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the first quarter valued at $28,000. Allworth Financial LP lifted its holdings in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after acquiring an additional 1,543 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of KeyCorp during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

KEY stock opened at $17.55 on Wednesday. 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 company's fifty day moving average price is $18.55 and its 200-day moving average price is $17.12. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a market capitalization of $19.24 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.55 and a beta of 1.15.

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, beating the consensus estimate of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. KeyCorp's quarterly revenue was up 172.7% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. On average, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

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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