KeyCorp (NYSE:KEY) Price Target Lowered to $21.00 at Keefe, Bruyette & Woods

KeyCorp (NYSE:KEY) had its target price trimmed by Keefe, Bruyette & Woods from $22.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently commented on KEY. Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Truist Financial started coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price for the company. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. Evercore ISI raised their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.58.

KeyCorp Stock Performance

NYSE:KEY opened at $17.32 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day moving average is $18.13 and its 200-day moving average is $17.06. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is -273.32%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp 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 in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the period. Avanza Fonder AB acquired a new position in shares of KeyCorp during the 4th quarter worth about $1,618,000. MBB Public Markets I LLC bought a new stake in shares of KeyCorp in the 2nd quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $798,000. Finally, Prospector Partners LLC bought a new position in KeyCorp during the 3rd quarter worth approximately $9,630,000. 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.