KeyCorp (NYSE:KEY) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial has raised its price target for KeyCorp from $17.00 to $19.00, indicating a potential upside of 2.73% from the current stock price.
• KeyCorp reported $0.35 earnings per share, exceeding analysts' estimates, and had a revenue increase of 20.6% year-over-year to $1.84 billion.
• Institutional investors currently own 79.69% of KeyCorp stock, reflecting significant interest from larger funds in the financial services provider.

KeyCorp (NYSE:KEY - Get Free Report) had its price target increased by Truist Financial from $17.00 to $19.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective indicates a potential upside of 2.73% from the company's current price.

KEY has been the subject of several other reports. DA Davidson lifted their target price on KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Jefferies Financial Group began coverage on KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price target for the company. Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.39.

KeyCorp Stock Performance

KEY traded down $0.08 during trading on Monday, reaching $18.50. 13,396,037 shares of the company were exchanged, compared to its average volume of 15,581,108. The stock has a market cap of $20.27 billion, a P/E ratio of -264.36, a PEG ratio of 0.66 and a beta of 1.11. The firm has a 50 day moving average of $17.00 and a 200 day moving average of $16.45. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last announced 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $18.86, for a total transaction 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 Securities & Exchange Commission, which is available at this link. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,149 shares of company stock valued at $2,503,840. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On KeyCorp

Large investors have recently added to or reduced their stakes in the stock. Tompkins Financial Corp acquired a new position in KeyCorp during the second quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $28,000. Zions Bancorporation National Association UT acquired a new stake in shares of KeyCorp in the first quarter valued at about $28,000. FSC Wealth Advisors LLC acquired a new stake in shares of KeyCorp in the first quarter valued at about $34,000. Finally, Allworth Financial LP raised its position in shares of KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after buying an additional 1,543 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

About KeyCorp

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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