KeyCorp (NYSE:KEY) Price Target Cut to $21.00 by Analysts at DA Davidson

KeyCorp (NYSE:KEY) had its target price decreased by investment analysts at DA Davidson from $22.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 21.16% from the stock’s previous close.

Several other equities research analysts have also weighed in on KEY. Evercore ISI upped their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Piper Sandler boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $19.56.

KeyCorp Trading Down 1.7 %

Shares of KeyCorp stock opened at $17.33 on Wednesday. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $17.18 billion, a PE ratio of 1,752.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. The company’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $17.06.

Insiders Place Their Bets

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated 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 of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated 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 directly owns 234,582 shares in the company, 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. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Azora Capital LP acquired a new stake in KeyCorp in the third quarter valued at approximately $92,413,000. Assenagon Asset Management S.A. boosted its holdings in shares of KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans grew its position in KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after purchasing an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after purchasing an additional 2,790,192 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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.