KeyCorp (NYSE:KEY) Hits New 12-Month High at $16.57

KeyCorp (NYSE:KEY) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.57 and last traded at $16.57, with a volume of 8442 shares changing hands. The stock had previously closed at $16.46.

Wall Street Analysts Forecast Growth

KEY has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wedbush upped their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Evercore ISI decreased their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, DA Davidson raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $16.13.

KeyCorp Stock Performance

The stock has a 50-day simple moving average of $14.46 and a 200-day simple moving average of $14.57. The stock has a market cap of $15.44 billion, a P/E ratio of 20.84, a PEG ratio of 0.89 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.01%. KeyCorp’s dividend payout ratio is presently 103.80%.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of KeyCorp by 35.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after purchasing an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. raised its position in KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares during the period. Aigen Investment Management LP bought a new stake in KeyCorp during the fourth quarter valued at about $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in KeyCorp during the 4th quarter worth approximately $7,200,000. Hedge funds and other institutional investors 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.