Piper Sandler Forecasts Strong Price Appreciation for KeyCorp (NYSE:KEY) Stock

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

Several other analysts have also weighed in on KEY. The Goldman Sachs Group raised their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, November 7th. Barclays raised their price objective on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $18.79.

KeyCorp Stock Down 0.2 %

KEY stock opened at $18.77 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization 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 business’s fifty day moving average price is $17.97 and its two-hundred day moving average price is $16.19. KeyCorp has a fifty-two week low of $12.76 and a fifty-two week high of $20.04.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for 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%. On average, equities analysts anticipate that KeyCorp will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the firm’s 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 sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC boosted its position in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the third quarter valued at $28,000. Larson Financial Group LLC raised its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp in the third quarter valued at $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp in the third quarter valued at $38,000. Hedge funds and other institutional investors 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.