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

Shares of KeyCorp (NYSE:KEYGet Free Report) have earned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $18.97.

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. Baird R W raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Citigroup restated a “buy” rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of KeyCorp in a research note on Thursday, April 17th.

View Our Latest Stock Analysis on KeyCorp

KeyCorp Price Performance

KEY stock opened at $14.93 on Wednesday. The company’s 50-day moving average is $15.31 and its 200-day moving average is $17.03. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $16.36 billion, a PE ratio of -49.77, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEYGet Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. Equities research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Mohit Ramani bought 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 60,180 shares of company stock valued at $1,032,525 in the last quarter. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently bought and sold shares of the business. TCTC Holdings LLC boosted its stake in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares during the period. Signaturefd LLC increased its position in shares of KeyCorp by 16.0% during the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 614 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after buying an additional 627 shares during the period. Integrated Wealth Concepts LLC grew its holdings in KeyCorp by 2.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 631 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after buying an additional 692 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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