KeyCorp (NYSE:KEY) Receives Average Rating of “Moderate Buy” from Analysts

KeyCorp (NYSE:KEY) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.0263.

KEY has been the topic of a number of research analyst reports. Argus lifted their target price on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Robert W. Baird set a $19.00 price objective on KeyCorp and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of KeyCorp from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, DA Davidson set a $25.00 target price on shares of KeyCorp in a research note on Wednesday, January 21st.

Insider Activity at KeyCorp

In related news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider owned 166,583 shares in the company, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently modified their holdings of the company. MCF Advisors LLC lifted its stake in KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 456 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 486 shares in the last quarter. Harbour Investments Inc. increased its stake in KeyCorp by 19.0% during the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 508 shares during the period. Centennial Wealth Advisory LLC increased its stake in KeyCorp by 1.2% during the fourth quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 524 shares during the period. Finally, CoreCap Advisors LLC lifted its position in shares of KeyCorp by 4.6% during the fourth quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.5%

Shares of NYSE KEY opened at $19.39 on Friday. The company has a market capitalization of $21.12 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.58 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The company has a 50 day simple moving average of $21.09 and a 200-day simple moving average of $19.66. KeyCorp has a 1 year low of $12.73 and a 1 year high of $23.34.

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

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

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.