KeyCorp (NYSE:KEY) Price Target Cut to $20.00 by Analysts at Barclays

KeyCorp (NYSE:KEY) had its price objective reduced by research analysts at Barclays from $21.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 41.04% from the company’s current price.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Baird R W upgraded shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Truist Financial cut their price target on KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.15.

KeyCorp Price Performance

NYSE KEY opened at $14.18 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a 50-day moving average price of $15.61 and a two-hundred day moving average price of $17.10. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of -47.27, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter last year, the business posted $0.20 earnings per share. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in KeyCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock worth $19,149,000 after buying an additional 36,424 shares in the last quarter. Truist Financial Corp lifted its stake in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock worth $1,643,000 after purchasing an additional 20,424 shares during the period. Avanza Fonder AB bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $1,618,000. Proficio Capital Partners LLC bought a new position in shares of KeyCorp during the 4th quarter worth approximately $1,519,000. Finally, CHURCHILL MANAGEMENT Corp grew its position in KeyCorp by 5.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock valued at $7,976,000 after acquiring an additional 26,047 shares during the period. 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.