KeyCorp (NYSE:KEY) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of KeyCorp (NYSE:KEY) in a report issued on Tuesday,Benzinga reports. The firm set a “hold” rating and a $19.00 price target on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 10.85% from the company’s previous close.

Several other research firms have also commented on KEY. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday. Wedbush upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their target price on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI raised their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.44.

KeyCorp Trading Down 0.3 %

Shares of NYSE:KEY opened at $17.14 on Tuesday. The company has a market capitalization of $16.99 billion, a PE ratio of 1,714.00, a P/E/G ratio of 1.00 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The business’s fifty day simple moving average is $18.26 and its 200-day simple moving average is $16.81.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after buying an additional 993,942 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in KeyCorp by 12.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after purchasing an additional 2,213,872 shares in the last quarter. Earnest Partners LLC grew its position in shares of KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after purchasing an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after acquiring an additional 222,187 shares during the last quarter. 79.69% of the stock is 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.