KeyCorp (NYSE:KEY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

KeyCorp (NYSE:KEY) has received a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.7941.

A number of equities analysts have recently commented on KEY shares. Cowen raised KeyCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, December 9th. Piper Sandler boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Morgan Stanley increased their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. Finally, Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in KeyCorp during the fourth quarter worth about $476,000. Amundi increased its position in KeyCorp by 8.5% during the 1st quarter. Amundi now owns 3,016,799 shares of the financial services provider’s stock worth $48,239,000 after purchasing an additional 236,040 shares during the period. AQR Capital Management LLC raised its stake in shares of KeyCorp by 5.1% during the 1st quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock worth $6,495,000 after buying an additional 20,429 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of KeyCorp by 4.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,233,478 shares of the financial services provider’s stock valued at $19,723,000 after buying an additional 51,746 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of KeyCorp by 218.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 308,683 shares of the financial services provider’s stock valued at $4,936,000 after buying an additional 211,780 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

NYSE:KEY opened at $20.97 on Monday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $21.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average price of $19.04 and a 200 day moving average price of $18.52. The stock has a market capitalization of $22.91 billion, a P/E ratio of 25.88, a PEG ratio of 0.52 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted ($0.47) EPS. KeyCorp’s revenue for the quarter was up 172.7% on a year-over-year basis. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Tuesday, December 2nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, December 2nd. KeyCorp’s dividend payout ratio (DPR) is currently 101.23%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.