KeyCorp (NYSE:KEY) Given Average Rating of “Moderate Buy” by Analysts

KeyCorp (NYSE:KEY) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.38.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Evercore ISI reduced their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of KeyCorp in a research note on Tuesday, June 25th.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEY. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp in the first quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of KeyCorp in the fourth quarter worth about $26,000. Sound Income Strategies LLC increased its holdings in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of KeyCorp in the first quarter worth about $32,000. Finally, First United Bank & Trust bought a new stake in shares of KeyCorp in the fourth quarter worth about $29,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $14.27 on Thursday. The business’s fifty day moving average price is $14.36 and its two-hundred day moving average price is $14.46. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.72 and a beta of 1.26. 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 (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue was down 10.6% on a year-over-year basis. As a group, analysts predict that KeyCorp will post 1.13 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were issued a $0.205 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a yield of 5.75%. KeyCorp’s dividend payout ratio is presently 103.80%.

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.