KeyCorp (NYSE:KEY) Price Target Cut to $21.00 by Analysts at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY) had its target price lowered by analysts at Keefe, Bruyette & Woods from $22.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 18.81% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial began coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target for the company. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a report on Monday, October 14th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Evercore ISI increased their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.50.

KeyCorp Trading Down 3.4 %

Shares of KeyCorp stock opened at $17.68 on Wednesday. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The stock has a market cap of $17.52 billion, a PE ratio of 1,767.50, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. The company has a 50-day moving average of $18.16 and a two-hundred day moving average of $17.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of the 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in KeyCorp by 10.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 219,295 shares of the financial services provider’s stock valued at $3,759,000 after buying an additional 19,998 shares during the last quarter. Brighton Jones LLC purchased a new position in KeyCorp in the fourth quarter valued at about $476,000. Avior Wealth Management LLC grew its stake in KeyCorp by 19.5% during the 4th quarter. Avior Wealth Management LLC now owns 25,955 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 4,243 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of KeyCorp by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 105,861 shares of the financial services provider’s stock valued at $1,814,000 after purchasing an additional 2,293 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in KeyCorp by 59.4% in the fourth quarter. SG Americas Securities LLC now owns 154,303 shares of the financial services provider’s stock valued at $2,645,000 after acquiring an additional 57,510 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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.