KeyCorp (NYSE:KEY) Receives $19.16 Consensus Target Price from Brokerages

KeyCorp (NYSE:KEY) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.16.

Several brokerages have recently commented on KEY. Keefe, Bruyette & Woods increased their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Wedbush lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Evercore ISI increased their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd.

KeyCorp Trading Down 0.5 %

NYSE:KEY opened at $17.11 on Thursday. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 1,711.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $18.28 and its 200 day simple moving average is $16.66.

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

KeyCorp Dividend Announcement

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

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC boosted its stake in KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in KeyCorp during the third quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp during the 3rd quarter worth about $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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.