Truist Financial Initiates Coverage on KeyCorp (NYSE:KEY)

Stock analysts at Truist Financial began coverage on shares of KeyCorp (NYSE:KEY) in a research note issued 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 target would indicate a potential upside of 9.32% from the company’s current price.

A number of other equities research analysts have also recently commented on KEY. Wedbush raised their price objective 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. Keefe, Bruyette & Woods increased their target price on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.44.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $17.38 on Tuesday. The firm has a market capitalization of $17.23 billion, a P/E ratio of 1,738.00, a PEG ratio of 1.00 and a beta of 1.27. 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 company has a 50 day moving average price of $18.27 and a 200 day moving average price of $16.78. KeyCorp has a 52 week low of $12.94 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share 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 the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Sell-side analysts expect that KeyCorp will post 1.09 EPS for the current year.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wolff Wiese Magana LLC grew its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of KeyCorp during the third quarter worth about $28,000. Larson Financial Group LLC grew its position in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp during the third quarter worth about $35,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of KeyCorp during the third quarter worth about $38,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.