KeyCorp (KEY) Monthly Market Report
Publication Date: September 22, 2024
Company Overview
KeyCorp (NYSE: KEY), headquartered in Cleveland, Ohio, is a dominant player in the regional banking sector and serves a diverse customer base through its flagship entity, KeyBank National Association. Established in 1849, KeyCorp operates primarily through its Consumer Bank and Commercial Bank segments, delivering a comprehensive portfolio of retail and commercial banking products, including deposits, investment solutions, commercial leasing, and personal finance services. KeyCorp focuses on industries such as healthcare, real estate, and technology, catering primarily to individuals and small to medium-sized businesses. With an impressive total revenue of approximately $5.74 billion, KeyCorp illustrates its substantial capacity for financial growth and its pivotal role within the broader Financial Services sector.
Market Performance and Analyst Outlook
As of the latest trading session, KeyCorp shares are priced at $17.12, positioned near a fifty-two week high of $17.39. This performance reflects a robust upward momentum and market confidence in the stock, particularly in light of the target high price set at $20.00, indicating a strong potential for appreciation. Analysts have collectively issued a bullish recommendation to “buy,” with an average score of 2.2—favoring investment in this stock. Additionally, the low short interest of approximately 2.99% (21,470,476 shares) reflects prevailing market optimism. The anticipated volatility in stock price is evidenced by a forecasted low of $12.41 and an average target price of $17.57. In summary, the consensus from 19 analysts strongly suggests an upward trend for KeyCorp, reflecting a favorable sentiment in the financial marketplace.
Conclusion
KeyCorp’s steady performance, combined with its strong recommendation to “buy,” positions it as an attractive investment opportunity within the regional banking sector. The company’s resilience and growth potential, underscored by substantial revenue and promising price targets, make it a noteworthy consideration for both short-term traders and long-term investors navigating the evolving landscape of financial services.
| Metric | Value |
|---|---|
| Market Cap | $15.9b |
| Total Debt | $23.4b |
| Total Cash | $2.8b |
| Shares Outstanding | 928.1m |
| Float Shares | 937.8m |
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