KeyCorp (NYSE:KEY) Receives Average Recommendation of “Moderate Buy” from Brokerages

KeyCorp (NYSE:KEY) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.71.

A number of brokerages recently issued reports on KEY. Royal Bank of Canada raised their price objective on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Evercore ISI raised their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Piper Sandler raised their target price on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Finally, Barclays lowered their target price on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, January 19th.

KeyCorp Stock Up 1.4 %

Shares of KEY opened at $14.93 on Friday. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company has a market capitalization of $13.85 billion, a PE ratio of 18.90 and a beta of 1.29. The stock has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $13.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.15 EPS for the current year.

Insider Buying and Selling

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at $277,130. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock worth $303,914 over the last 90 days. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board acquired a new position in KeyCorp during the third quarter worth approximately $274,773,000. Norges Bank acquired a new position in shares of KeyCorp in the fourth quarter valued at approximately $128,203,000. Ceredex Value Advisors LLC acquired a new position in shares of KeyCorp in the fourth quarter valued at approximately $64,421,000. FMR LLC increased its holdings in shares of KeyCorp by 14.4% in the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after purchasing an additional 3,992,226 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock valued at $248,844,000 after purchasing an additional 3,216,584 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.