KeyCorp (NYSE:KEY – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $49.1389.
Several equities research analysts have recently commented on KEY shares. Susquehanna boosted their price objective on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a report on Monday, May 18th. Morgan Stanley increased their target price on KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. UBS Group lifted their price target on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Stephens began coverage on shares of KeyCorp in a research note on Monday, June 15th. They set an “overweight” rating and a $26.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, April 17th.
Get Our Latest Stock Analysis on KEY
Insiders Place Their Bets
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. DV Equities LLC purchased a new position in KeyCorp during the 4th quarter worth $27,000. Maseco LLP bought a new stake in shares of KeyCorp in the 4th quarter worth $27,000. Smithfield Trust Co purchased a new stake in shares of KeyCorp in the fourth quarter valued at about $31,000. Kelleher Financial Advisors purchased a new stake in shares of KeyCorp in the third quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of KeyCorp during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.
KeyCorp Stock Performance
Shares of KEY opened at $22.61 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a 50-day moving average of $22.57 and a 200-day moving average of $21.63. The company has a market cap of $24.41 billion, a PE ratio of 13.15, a P/E/G ratio of 0.73 and a beta of 1.02. KeyCorp has a one year low of $16.47 and a one year high of $24.07.
KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business 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 for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, equities research analysts predict that KeyCorp will post 1.83 EPS for the current fiscal year.
KeyCorp announced that its board has authorized a share buyback program 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 buy up to 13% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
KeyCorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 1st. KeyCorp’s dividend payout ratio is currently 47.67%.
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.
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