KeyCorp (NYSE:KEY) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of KeyCorp (NYSE:KEY) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on KEY. Weiss Ratings restated a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. The Goldman Sachs Group boosted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Evercore lifted their target price on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company set a $18.00 target price on KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.92.

KeyCorp Price Performance

KEY stock opened at $21.86 on Tuesday. The business’s fifty day moving average price is $21.52 and its 200 day moving average price is $19.53. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.82 billion, a PE ratio of 14.38, a P/E/G ratio of 0.64 and a beta of 1.10.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company 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%.KeyCorp’s revenue was up 131.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is 53.95%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp 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 completion of the sale, the insider directly owned 166,583 shares of the company’s stock, valued at $3,869,723.09. The trade was a 28.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 161,506 shares of company stock worth $3,597,481 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DV Equities LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at $27,000. Maseco LLP acquired a new position in KeyCorp in the fourth quarter valued at $27,000. United Community Bank acquired a new position in KeyCorp in the third quarter valued at $27,000. GoalVest Advisory LLC purchased a new position in shares of KeyCorp during the fourth quarter worth about $30,000. Finally, Smithfield Trust Co acquired a new stake in shares of KeyCorp during the fourth quarter worth about $31,000. Institutional investors and hedge funds 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.