KeyCorp (NYSE:KEY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of KeyCorp (NYSE:KEY) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $19.16.

KEY has been the subject of several recent research reports. UBS Group upped their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays increased their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.37 on Thursday. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 1,737.00, a PEG ratio of 1.00 and a beta of 1.25. The business has a 50 day moving average price of $18.28 and a 200 day moving average price of $16.55. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Research analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.72%. KeyCorp’s payout ratio is currently 8,200.00%.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC boosted its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC acquired a new position in KeyCorp during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC boosted its position in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $38,000. 79.69% of the stock is currently owned by 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.