Jefferies Believes KeyCorp (KEY) Still Has Room to Grow

Jefferies analyst Ken Usdin maintained a Buy rating on KeyCorp (KEY) on April 21 and set a price target of $24.00. The company’s shares closed last Thursday at $22.89, close to its 52-week high of $22.90.

According to, Usdin is a top 100 analyst with an average return of 25.0% and a 80.1% success rate. Usdin covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Texas Capital Bancshares.

KeyCorp has an analyst consensus of Hold, with a price target consensus of $22.68, which is a -0.6% downside from current levels. In a report issued on April 21, RBC Capital also maintained a Buy rating on the stock with a $23.00 price target.

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Based on KeyCorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.74 billion and net profit of $622 million. In comparison, last year the company earned revenue of $1.55 billion and had a net profit of $146 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KEY in relation to earlier this year.

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KeyCorp operates as bank holding company. The company operates through the following segments: Consumer Bank and Commercial Bank. The Consumer Bank segment offers deposit and investment products, personal finance and financial wellness services, lending, mortgage and home equity, student loan refinancing, credit card, treasury services, and business advisory services. The Commercial Bank segment engages in serving the needs of middle market clients in seven industry sectors: consumer, energy, healthcare, industrial, public sector, real estate, and technology The company was founded in 1958 and is headquartered in Cleveland, OH.

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