KeyCorp (NYSE:KEY) Price Target Cut to $17.50

KeyCorp (NYSE:KEY) had its target price decreased by analysts at JPMorgan Chase & Co. from $18.00 to $17.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 30.99% from the company’s previous close.

A number of other equities analysts have also commented on KEY. Argus lifted their price objective on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.97.

KeyCorp Stock Performance

KeyCorp stock opened at $13.36 on Friday. The business’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $14.41. The stock has a market cap of $12.60 billion, a PE ratio of 16.91, a P/E/G ratio of 0.66 and a beta of 1.28. KeyCorp has a 12-month low of $9.10 and a 12-month high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the company earned $0.44 EPS. KeyCorp’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, analysts expect that KeyCorp will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently modified their holdings of KEY. Keynote Financial Services LLC purchased a new stake in KeyCorp in the 1st quarter valued at $182,000. DekaBank Deutsche Girozentrale grew its position in KeyCorp by 8.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 236,774 shares of the financial services provider’s stock worth $3,683,000 after purchasing an additional 19,052 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in KeyCorp in the 1st quarter valued at about $25,000. Cetera Advisors LLC lifted its holdings in KeyCorp by 116.4% during the first quarter. Cetera Advisors LLC now owns 155,448 shares of the financial services provider’s stock worth $2,458,000 after acquiring an additional 83,601 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of KeyCorp by 274.4% during the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after purchasing an additional 243,437 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.