KeyCorp (NYSE:KEY) Stock Rating Upgraded by UBS Group

KeyCorp (NYSE:KEY - Get Free Report) was upgraded by UBS Group from a "neutral" rating to a "buy" rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a $22.00 target price on the financial services provider's stock, up from their previous target price of $16.00. UBS Group's price objective would indicate a potential upside of 18.76% from the company's previous close.

Several other brokerages have also issued reports on KEY. Evercore ISI set a $17.00 price objective on KeyCorp in a research report on Monday, April 28th. Truist Financial reduced their price target on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Bank of America raised their price objective on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $19.18.

KeyCorp Price Performance

Shares of NYSE KEY traded up $0.05 during midday trading on Tuesday, reaching $18.53. 5,531,645 shares of the company traded hands, compared to its average volume of 13,098,549. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The stock's 50-day simple moving average is $16.32 and its 200-day simple moving average is $16.34. The firm has a market cap of $20.30 billion, a PE ratio of -108.96, a PEG ratio of 0.68 and a beta of 1.11.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. The business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the business posted $0.20 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its board has initiated a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director directly owned 37,177 shares of the company's stock, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The sale 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 KeyCorp stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the sale, the insider directly owned 82,523 shares of the company's stock, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of KeyCorp

Several institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. boosted its position in KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after buying an additional 800 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of KeyCorp in the fourth quarter worth about $28,000. Zions Bancorporation National Association UT bought a new stake in shares of KeyCorp in the first quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in KeyCorp during the 4th quarter valued at about $34,000. Finally, FSC Wealth Advisors LLC bought a new position in KeyCorp during the 1st quarter valued at approximately $34,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.