KeyCorp (NYSE:KEY) Price Target Lowered to $16.50 at JPMorgan Chase & Co.

KeyCorp (NYSE:KEY) had its target price cut by JPMorgan Chase & Co. from $17.50 to $16.50 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

KEY has been the topic of a number of other research reports. Wells Fargo & Company upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research report on Monday, April 8th. Evercore ISI cut their target price on KeyCorp from $17.50 to $16.50 and set an outperform rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued an outperform rating and issued a $41.00 target price on shares of KeyCorp in a report on Tuesday. Finally, Argus increased their price objective on KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp has an average rating of Moderate Buy and a consensus price target of $17.38.

KeyCorp Trading Up 0.7 %

NYSE:KEY opened at $13.62 on Thursday. The firm has a market capitalization of $12.84 billion, a P/E ratio of 17.24, a PEG ratio of 0.68 and a beta of 1.28. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a one year low of $9.10 and a one year high of $15.86. The company’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $14.45.

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

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.82 annualized dividend and a yield of 6.02%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its holdings in KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after purchasing an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KeyCorp by 35.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 86,579 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after buying an additional 289,258 shares during the period. Aigen Investment Management LP purchased a new stake in KeyCorp in the 4th quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in KeyCorp during the fourth quarter valued at about $7,200,000. 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.