KeyCorp (NYSE:KEY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of KeyCorp (NYSE:KEY) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.75.

Several research analysts have commented on KEY shares. Piper Sandler upped their target price 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. Truist Financial initiated coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective for the company. Barclays lifted their target price on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Stephens reissued an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently made changes to their positions in KEY. Norges Bank acquired a new stake in KeyCorp during the 4th quarter valued at $153,235,000. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock valued at $2,004,228,000 after buying an additional 7,754,576 shares in the last quarter. Azora Capital LP acquired a new position in KeyCorp during the third quarter valued at $92,413,000. Freestone Grove Partners LP purchased a new stake in KeyCorp in the 4th quarter worth about $63,540,000. Finally, Thrivent Financial for Lutherans boosted its position in KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY stock opened at $15.15 on Tuesday. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of -50.48, a PEG ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s fifty day moving average is $17.33 and its two-hundred day moving average is $17.48.

KeyCorp Announces Dividend

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

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.