KeyCorp (NYSE:KEY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of KeyCorp (NYSE:KEY) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.44.

A number of research analysts have recently commented on the stock. Wedbush lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group lifted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd.

KeyCorp Stock Up 2.7 %

KEY stock opened at $18.32 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $18.16 billion, a P/E ratio of 1,832.30, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The business has a 50-day moving average of $18.18 and a 200-day moving average of $17.01.

KeyCorp (NYSE:KEY) last released its 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. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. On average, sell-side analysts anticipate that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.48%. KeyCorp’s dividend payout ratio (DPR) 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 dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Advocates Investment Management boosted its holdings in shares of KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after buying an additional 602 shares during the last quarter. HM Payson & Co. increased its stake in shares of KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares during the last quarter. Graypoint LLC raised its holdings in shares of KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its holdings in KeyCorp by 2.1% during the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 679 shares during the period. Finally, Ballentine Partners LLC increased its position in KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after buying an additional 692 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.