KeyCorp (NYSE:KEY) Receives $19.16 Average PT from Analysts

KeyCorp (NYSE:KEY) has earned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $19.16.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Finally, DA Davidson increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st.

KeyCorp Stock Performance

Shares of KEY opened at $17.11 on Thursday. The company has a market capitalization of $16.96 billion, a PE ratio of 1,711.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The company’s fifty day moving average price is $18.28 and its 200 day moving average price is $16.66.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. As a group, analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. Franklin Resources Inc. raised its position in shares of KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after acquiring an additional 319,155 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in KeyCorp in the third quarter worth $395,000. Sanctuary Advisors LLC boosted its position in shares of KeyCorp by 23.8% during the third quarter. Sanctuary Advisors LLC now owns 71,218 shares of the financial services provider’s stock worth $1,193,000 after purchasing an additional 13,701 shares in the last quarter. Unigestion Holding SA acquired a new position in shares of KeyCorp in the 3rd quarter valued at $558,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of KeyCorp by 1,974.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,541,680 shares of the financial services provider’s stock valued at $25,823,000 after buying an additional 1,467,351 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.