KeyCorp (NYSE:KEY) Receives $16.65 Average PT from Analysts

KeyCorp (NYSE:KEY) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.65.

Several equities research analysts recently weighed in on the stock. Wedbush upped their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Citigroup upped their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, DA Davidson lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th.

KeyCorp Stock Down 1.8 %

Shares of KEY opened at $16.81 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The firm’s 50 day moving average is $16.08 and its 200-day moving average is $15.11. The stock has a market capitalization of $15.85 billion, a PE ratio of 21.28, a P/E/G ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. Equities research analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s payout ratio is currently 103.80%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in KeyCorp during the 1st quarter worth approximately $25,000. Crewe Advisors LLC acquired a new position in KeyCorp in the first quarter valued at $32,000. Quarry LP bought a new stake in KeyCorp during the fourth quarter valued at $38,000. Fidelis Capital Partners LLC acquired a new stake in KeyCorp during the 1st quarter worth about $39,000. Finally, Centerpoint Advisors LLC raised its position in shares of KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,107 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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.