Shares of KeyCorp (NYSE:KEY – Get Free Report) have earned an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $46.5526.
KEY has been the subject of several recent analyst reports. DA Davidson boosted their price objective on KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Robert W. Baird lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. TD Cowen reissued a “buy” rating and issued a $68.00 price target on shares of KeyCorp in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th.
Insiders Place Their Bets
Hedge Funds Weigh In On KeyCorp
Several institutional investors have recently modified their holdings of KEY. Wellington Management Group LLP lifted its position in KeyCorp by 90.2% in the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares during the last quarter. Capital World Investors grew its position in KeyCorp by 169.2% during the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after acquiring an additional 13,067,326 shares during the last quarter. Norges Bank purchased a new position in shares of KeyCorp during the fourth quarter worth approximately $262,688,000. North Reef Capital Management LP purchased a new position in shares of KeyCorp during the first quarter worth approximately $253,632,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $150,843,000. 79.69% of the stock is currently owned by institutional investors.
KeyCorp Stock Down 0.1%
Shares of NYSE KEY opened at $22.99 on Monday. The business has a 50-day simple moving average of $21.99 and a two-hundred day simple moving average of $21.36. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 52 week low of $16.47 and a 52 week high of $23.72. The company has a market cap of $24.82 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.72 and a beta of 1.02.
KeyCorp (NYSE:KEY – Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. KeyCorp’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. Research analysts anticipate that KeyCorp will post 1.82 earnings per share for the current fiscal year.
KeyCorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a $0.205 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.82 annualized dividend and a yield of 3.6%. KeyCorp’s payout ratio is 50.31%.
KeyCorp declared that its board has approved a share buyback plan on Wednesday, May 13th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 13% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are 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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