Evercore Lowers KeyCorp (NYSE:KEY) Price Target to $24.00
by Teresa Graham · The Cerbat GemKeyCorp (NYSE:KEY – Get Free Report) had its price target lowered by equities researchers at Evercore from $26.00 to $24.00 in a report issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore’s price target would suggest a potential upside of 16.25% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Piper Sandler upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Robert W. Baird set a $19.00 price target on KeyCorp and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Truist Financial dropped their price objective on KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Finally, Barclays lifted their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.76.
Check Out Our Latest Analysis on KEY
KeyCorp Trading Up 0.9%
Shares of KeyCorp stock opened at $20.65 on Monday. KeyCorp has a 12-month low of $12.78 and a 12-month high of $23.34. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $20.84 and its 200-day moving average is $19.74. The stock has a market cap of $22.15 billion, a P/E ratio of 13.58, a P/E/G ratio of 0.66 and a beta of 1.07.
KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 131.8% compared to the same quarter last year. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.
Insider Transactions at KeyCorp
In other news, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares of the company’s stock, valued at $5,633,493.25. This trade represents a 19.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 161,506 shares of company stock valued at $3,597,481. 0.52% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On KeyCorp
A number of institutional investors have recently modified their holdings of the company. United Community Bank acquired a new stake in KeyCorp during the 3rd quarter worth about $27,000. Maseco LLP acquired a new stake in KeyCorp during the fourth quarter worth approximately $27,000. DV Equities LLC acquired a new stake in KeyCorp during the fourth quarter worth approximately $27,000. GoalVest Advisory LLC bought a new stake in KeyCorp in the fourth quarter worth approximately $30,000. Finally, Smithfield Trust Co bought a new position in shares of KeyCorp during the 4th quarter worth approximately $31,000. 79.69% of the stock is owned by institutional investors.
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.