KeyCorp (NYSE:KEY) Hits New 52-Week High at $17.25

KeyCorp (NYSE:KEY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.25 and last traded at $17.23, with a volume of 3000467 shares traded. The stock had previously closed at $16.59.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KEY shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Wedbush upped their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, DA Davidson raised their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average price is $16.05 and its 200 day moving average price is $15.10. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 103.80%.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

Large investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the 1st quarter valued at about $25,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $39,000. Quarry LP bought a new position in shares of KeyCorp during the fourth quarter worth approximately $38,000. Finally, Centerpoint Advisors LLC lifted its holdings in KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,107 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Company Profile

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.