KeyCorp (NYSE:KEY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of KeyCorp (NYSE:KEY) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.31.

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup decreased their price objective on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Stephens restated an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd.

Insider Buying and Selling

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. 111 Capital bought a new position in shares of KeyCorp in the fourth quarter worth $238,000. Wealth Enhancement Advisory Services LLC grew its holdings in KeyCorp by 22.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,451 shares of the financial services provider’s stock valued at $1,756,000 after buying an additional 18,790 shares in the last quarter. Centaurus Financial Inc. grew its holdings in KeyCorp by 11.2% during the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider’s stock valued at $124,000 after buying an additional 728 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of KeyCorp during the fourth quarter valued at about $7,141,000. Finally, LifeWealth Investments LLC purchased a new stake in shares of KeyCorp in the fourth quarter worth about $362,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Down 4.7 %

Shares of NYSE:KEY opened at $13.45 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The business’s 50 day simple moving average is $16.67 and its two-hundred day simple moving average is $17.36. The firm has a market cap of $14.74 billion, a P/E ratio of -44.83, a PEG ratio of 0.65 and a beta of 1.06.

KeyCorp declared that its board has authorized a stock repurchase program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 6.10%. KeyCorp’s payout ratio is presently -273.33%.

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.