KeyCorp (NYSE:KEY) Receives $18.92 Average Price Target from Brokerages

KeyCorp (NYSE:KEYGet Free Report) has received an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.92.

Several equities analysts have recently commented on the company. TD Cowen assumed coverage on KeyCorp in a research report on Thursday, May 15th. They set a “hold” rating and a $18.00 price objective on the stock. Wall Street Zen upgraded KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, April 21st. Baird R W upgraded KeyCorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Truist Financial reduced their price objective on KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd.

View Our Latest Report on KeyCorp

KeyCorp Stock Performance

NYSE:KEY opened at $16.17 on Thursday. The business’s 50-day moving average price is $15.54 and its two-hundred day moving average price is $16.37. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a market cap of $17.72 billion, a P/E ratio of -95.09, a PEG ratio of 0.60 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75.

KeyCorp (NYSE:KEYGet Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp’s dividend payout ratio (DPR) is currently -482.35%.

Insiders Place Their Bets

In other news, insider Amy G. Brady sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the transaction, the insider now owns 82,523 shares in the company, valued at $1,327,795.07. This trade represents a 18.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director now owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Whittier Trust Co. raised its position in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares during the last quarter. Ethos Financial Group LLC purchased a new position in shares of KeyCorp in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the 4th quarter worth about $28,000. Zions Bancorporation National Association UT purchased a new position in shares of KeyCorp in the 1st quarter worth about $28,000. Finally, Allworth Financial LP raised its position in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

About KeyCorp

(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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