Truist Financial Initiates Coverage on KeyCorp (NYSE:KEY)

Investment analysts at Truist Financial began coverage on shares of KeyCorp (NYSE:KEY) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $19.00 price target on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 10.85% from the stock’s current price.

A number of other research firms have also recently commented on KEY. Wells Fargo & Company boosted their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Wedbush increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Barclays lifted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.44.

KeyCorp Stock Down 0.3 %

Shares of KEY stock opened at $17.14 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. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The company’s fifty day moving average price is $18.26 and its 200-day moving average price is $16.81. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 1,714.00, a PEG ratio of 1.00 and a beta of 1.27.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

Insider Transactions at KeyCorp

In related 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 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 approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, 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. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in shares of KeyCorp by 6.6% during the second quarter. TD Asset Management Inc now owns 441,950 shares of the financial services provider’s stock worth $6,280,000 after acquiring an additional 27,406 shares during the period. Victory Capital Management Inc. raised its position in KeyCorp by 1.1% during the 2nd quarter. Victory Capital Management Inc. now owns 997,981 shares of the financial services provider’s stock valued at $14,181,000 after purchasing an additional 10,867 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of KeyCorp by 20.6% in the 2nd quarter. Private Advisor Group LLC now owns 155,088 shares of the financial services provider’s stock worth $2,204,000 after buying an additional 26,466 shares during the period. Acadian Asset Management LLC bought a new position in shares of KeyCorp during the 2nd quarter worth $283,000. Finally, Choreo LLC purchased a new position in shares of KeyCorp during the second quarter valued at $646,000. Hedge funds and other institutional investors 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.