In a report issued on April 16, Gerard Cassidy from RBC Capital maintained a Buy rating on KeyCorp (KEY), with a price target of $16.00. The company’s shares closed last Friday at $10.81.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 20.7% and a 70.4% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.
Currently, the analyst consensus on KeyCorp is a Moderate Buy with an average price target of $13.29, a 29.4% upside from current levels. In a report issued on April 2, Merrill Lynch also maintained a Buy rating on the stock with a $13.00 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 $1.46 billion and net profit of $146 million. In comparison, last year the company earned revenue of $1.51 billion and had a net profit of $407 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KEY in relation to earlier this year. Earlier this month, Christopher Gorman, the President & COO of KEY bought 40,000 shares for a total of $343,600.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
