Keefe, Bruyette & Woods Cuts KeyCorp (NYSE:KEY) Price Target to $21.00

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

KEY has been the subject of several other reports. Truist Financial began coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price for the company. Royal Bank of Canada upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley dropped their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

KeyCorp Price Performance

NYSE:KEY opened at $17.68 on Wednesday. The stock has a market capitalization 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. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average price is $18.16 and its 200-day moving average price is $17.04.

Insider Buying and Selling

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

Institutional Trading of KeyCorp

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares in the last quarter. Earnest Partners LLC boosted its stake in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after purchasing an additional 2,339,454 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after buying an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the last quarter. Finally, Azora Capital LP purchased a new position in KeyCorp during the 3rd quarter worth $92,413,000. 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.