KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Piper Sandler

KeyCorp (NYSE:KEY) had its price objective hoisted by equities research analysts at Piper Sandler from $19.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 17.21% from the company’s current price.

Several other brokerages have also issued reports on KEY. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wedbush raised their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. UBS Group increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI lifted their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.79.

KeyCorp Stock Performance

NYSE:KEY opened at $18.77 on Tuesday. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 1,877.00, a PEG ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average is $17.97 and its 200 day moving average is $16.19. KeyCorp has a 52-week low of $12.76 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Research analysts predict that KeyCorp will post 1.09 EPS for the current year.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Institutional Trading of KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advocates Investment Management raised its stake in KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 602 shares during the last quarter. HM Payson & Co. raised its stake in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 650 shares during the last quarter. Graypoint LLC grew its position in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its position in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares during the period. Finally, Empirical Finance LLC grew its position in KeyCorp by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 705 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.