DA Davidson Increases KeyCorp (NYSE:KEY) Price Target to $20.00

KeyCorp (NYSE:KEY) had its price target boosted by DA Davidson from $19.00 to $20.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would suggest a potential upside of 16.48% from the company’s current price. DA Davidson also issued estimates for KeyCorp’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $1.07 EPS and FY2025 earnings at $1.56 EPS.

Several other research firms also recently weighed in on KEY. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $15.00 in a report on Monday, July 8th. Evercore ISI upped their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.62.

KeyCorp Stock Up 0.5 %

KEY opened at $17.17 on Monday. KeyCorp has a one year low of $9.50 and a one year high of $17.94. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 0.97 and a beta of 1.25. The business’s fifty day moving average is $16.67 and its two-hundred day moving average is $15.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.88.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently made changes to their positions in the business. Freestone Capital Holdings LLC purchased a new stake in KeyCorp during the 1st quarter worth $561,000. Assenagon Asset Management S.A. boosted its position in shares of KeyCorp by 87.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after buying an additional 610,688 shares during the period. Commerce Bank grew its stake in shares of KeyCorp by 399.7% in the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after buying an additional 364,850 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of KeyCorp during the 2nd quarter valued at about $981,000. Finally, Cetera Investment Advisers lifted its position in KeyCorp by 274.4% during the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after acquiring an additional 243,437 shares in the last quarter. Institutional investors and hedge funds 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.