There’s Still Time to Buy Keycorp (NYSE:KEY) Stock

In yesterday’s Wall Street session, Keycorp (NYSE:KEY) shares traded at $11.28, down -0.18% from the previous session.

24 analysts cover Keycorp (NYSE:KEY), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $16.00 and a low of $10.00, we find $12.50. Given the previous closing price of $11.30, this indicates a potential upside of 10.62 percent. KEY stock price is now 5.08% away from the 50-day moving average and -6.90% away from the 200-day moving average. The market capitalization of the company currently stands at $10.56B.

The stock has received a hold rating from 8 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $12.67 as their price target over the next twelve months.

With the price target enhanced from $12.50 to $15, Keefe Bruyette Upgraded its rating from Mkt Perform to Outperform for Keycorp (NYSE: KEY).

In other news, Rankin Devina A, Director bought 10,000 shares of the company’s stock on Aug 10. The stock was bought for $114,900 at an average price of $11.49. Upon completion of the transaction, the Director now directly owns 10,000 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 26, Chief Information Officer Brady Amy G. sold 12,627 shares of the business’s stock. A total of $125,260 was realized by selling the stock at an average price of $9.92. This leaves the insider owning 94,106 shares of the company worth $1.06 million. Insiders disposed of 274,614 shares of company stock worth roughly $3.1 million over the past 1 year. A total of 0.39% of the company’s stock is owned by insiders.

On Wednesday morning Keycorp (NYSE: KEY) stock kicked off with the opening price of $11.32. During the past 12 months, Keycorp has had a low of $8.53 and a high of $20.30. The fifty day moving average price for KEY is $10.73 and a two-hundred day moving average price translates $12.12 for the stock.

The latest earnings results from Keycorp (NYSE: KEY) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.29, beating analysts’ expectations of $0.27 by 0.02. This compares to $0.55 EPS in the same period last year. The net profit margin was 11.46% and return on equity was 9.71% for KEY. The company reported revenue of $2.04 billion for the quarter, compared to $1.44 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 41.48 percent. For the current quarter, analysts expect KEY to generate $1.57B in revenue.

Keycorp(KEY) 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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses. It also provides a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans comprising consumer, energy, healthcare, industrial, public sector, real estate, and technology loans for middle market clients. In addition, the company offers community development financing, securities underwriting, brokerage, and investment banking services. The company was founded in 1849 and is headquartered in Cleveland, Ohio.

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