KeyCorp (NYSE:KEY) Given Average Rating of “Moderate Buy” by Brokerages

KeyCorp (NYSE:KEYGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $49.1389.

A number of brokerages have issued reports on KEY. Stephens assumed coverage on KeyCorp in a research note on Monday, June 15th. They issued an “overweight” rating and a $26.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, April 17th. UBS Group upped their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. DA Davidson restated a “buy” rating and set a $28.00 price objective on shares of KeyCorp in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Check Out Our Latest Report on KeyCorp

Insider Activity

In other news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the sale, the insider owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC raised its stake in shares of KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 456 shares during 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 buying an additional 486 shares during the last quarter. Harbour Investments Inc. grew its position in KeyCorp by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after buying an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in KeyCorp by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after buying an additional 522 shares during the period. Finally, Centennial Wealth Advisory LLC increased its stake in KeyCorp by 1.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock valued at $929,000 after buying an additional 524 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Price Performance

NYSE:KEY opened at $22.69 on Friday. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $24.49 billion, a PE ratio of 13.19, a P/E/G ratio of 0.73 and a beta of 1.02. The stock has a 50 day moving average price of $22.44 and a 200 day moving average price of $21.59.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. Equities research analysts expect that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.6%. KeyCorp’s dividend payout ratio is 50.31%.

KeyCorp announced that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 13% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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About KeyCorp

(Get Free Report)

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.

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