KeyCorp (NYSE:KEY) Given Average Recommendation of “Hold” by Brokerages

KeyCorp (NYSE:KEY) has been given an average recommendation of “Hold” by the twenty brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $22.8684.

Several research analysts recently commented on KEY shares. JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $22.00 to $24.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Truist Financial lifted their target price on KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Piper Sandler upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, TD Cowen reissued a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th.

KeyCorp Stock Down 5.5%

NYSE:KEY opened at $20.97 on Tuesday. The stock has a 50-day simple moving average of $21.48 and a 200 day simple moving average of $19.48. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.34. The company has a market cap of $22.92 billion, a PE ratio of 13.80, a PEG ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is presently 53.95%.

Insider Buying and Selling

In other news, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the transaction, the insider owned 166,583 shares in the company, valued at $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of KEY. Brighton Jones LLC bought a new stake in KeyCorp in the fourth quarter valued at approximately $476,000. Woodline Partners LP raised its stake in KeyCorp by 41.4% in the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 24,627 shares during the period. D.A. Davidson & CO. raised its stake in KeyCorp by 54.3% in the 2nd quarter. D.A. Davidson & CO. now owns 61,972 shares of the financial services provider’s stock valued at $1,080,000 after acquiring an additional 21,820 shares during the period. Brookstone Capital Management lifted its holdings in KeyCorp by 35.7% during the 2nd quarter. Brookstone Capital Management now owns 15,908 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 4,182 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new position in KeyCorp during the second quarter worth $223,000. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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.