KeyCorp (NYSE:KEY) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of KeyCorp (NYSE:KEY) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat reports. They currently have $20.00 price target on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Piper Sandler increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.75.

KeyCorp Price Performance

Shares of KEY stock opened at $15.15 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04. The firm has a fifty day moving average of $17.33 and a 200-day moving average of $17.48. The firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of -50.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.33%.

Insider Activity at KeyCorp

In other 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 stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. increased its position in KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 800 shares during the period. Ethos Financial Group LLC bought a new position in shares of KeyCorp during the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of KeyCorp during the fourth quarter worth approximately $28,000. Larson Financial Group LLC raised its position in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the fourth quarter valued at approximately $34,000. Institutional investors own 79.69% of the company’s stock.

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.