Shares of KeyCorp (NYSE:KEY – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.7750.
Several research firms have issued reports on KEY. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Robert W. Baird raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Susquehanna raised their price target on shares of KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a research note on Monday, May 18th. Jefferies Financial Group raised their price target on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada raised their price target on shares of KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th.
Check Out Our Latest Research Report on KEY
Insider Buying and Selling at KeyCorp
Hedge Funds Weigh In On KeyCorp
A number of institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in KeyCorp by 52.2% during the first quarter. Parallel Advisors LLC now owns 9,875 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 3,388 shares during the period. Groupama Asset Managment increased its position in shares of KeyCorp by 101.6% during the first quarter. Groupama Asset Managment now owns 58,465 shares of the financial services provider’s stock valued at $1,172,000 after acquiring an additional 29,467 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of KeyCorp during the first quarter valued at about $40,000. Royal Fund Management LLC acquired a new stake in shares of KeyCorp during the first quarter valued at about $928,000. Finally, Kentucky Retirement Systems increased its position in shares of KeyCorp by 24.7% during the first quarter. Kentucky Retirement Systems now owns 74,031 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 14,662 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.
KeyCorp Stock Performance
KEY opened at $20.92 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.67 and a beta of 1.03. KeyCorp has a 52-week low of $15.59 and a 52-week high of $23.34. The firm’s fifty day simple moving average is $21.23 and its two-hundred day simple moving average is $20.75.
KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities analysts anticipate that KeyCorp will post 1.83 earnings per share for the current fiscal year.
KeyCorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 2nd. KeyCorp’s dividend payout ratio (DPR) is currently 50.31%.
KeyCorp declared that its board has authorized a stock 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 repurchase up to 13% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
KeyCorp Company Profile
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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