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

Shares of KeyCorp (NYSE:KEY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $46.50.

KEY has been the topic of several analyst reports. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. Royal Bank Of Canada raised their target price on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Jefferies Financial Group raised their target price on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Truist Financial raised their target price on KeyCorp from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Piper Sandler raised their target price on KeyCorp from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, April 17th.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider directly owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Trading of KeyCorp

Institutional investors have recently bought and sold shares of the business. DV Equities LLC acquired a new stake in KeyCorp in the fourth quarter valued at approximately $27,000. Maseco LLP acquired a new stake in KeyCorp in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in KeyCorp in the fourth quarter valued at approximately $30,000. Smithfield Trust Co acquired a new stake in KeyCorp in the fourth quarter valued at approximately $31,000. Finally, True Wealth Design LLC grew its holdings in KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,592 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.2%

KeyCorp stock opened at $23.30 on Monday. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.03. KeyCorp has a 52 week low of $16.47 and a 52 week high of $23.72. The business’s 50-day moving average price is $21.88 and its 200 day moving average price is $21.27. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.KeyCorp’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, sell-side analysts anticipate that KeyCorp will post 1.82 earnings per share for the current year.

KeyCorp announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 13th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 13% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 2nd. KeyCorp’s dividend payout ratio (DPR) is presently 50.31%.

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.