KeyCorp (NYSE:KEY) Receives $49.14 Consensus Target Price from Analysts

Shares of KeyCorp (NYSE:KEYGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $49.1389.

Several research firms recently weighed in on KEY. Truist Financial upped their price target on KeyCorp from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Wells Fargo & Company increased their price target on shares of KeyCorp from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on KeyCorp from $22.50 to $24.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. Argus upgraded KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $68.00 price target on shares of KeyCorp in a research report on Tuesday, June 23rd.

Check Out Our Latest Report on KeyCorp

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Core Capital Management & Research inc. acquired a new stake in shares of KeyCorp during the 2nd quarter valued at about $164,000. Sequoia Financial Advisors LLC lifted its position in shares of KeyCorp by 24.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 135,315 shares of the financial services provider’s stock worth $3,119,000 after buying an additional 26,514 shares during the period. National Pension Service lifted its holdings in shares of KeyCorp by 2.2% during the second quarter. National Pension Service now owns 627,750 shares of the financial services provider’s stock valued at $14,470,000 after acquiring an additional 13,539 shares during the period. WINTON GROUP Ltd boosted its position in KeyCorp by 1,691.3% in the second quarter. WINTON GROUP Ltd now owns 244,695 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 231,035 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $2,162,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Down 0.6%

KeyCorp stock opened at $20.82 on Friday. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $22.21 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.79 and a beta of 1.02. The company has a 50 day moving average price of $22.39 and a 200 day moving average price of $21.75.

KeyCorp (NYSE:KEYGet Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. Research analysts forecast that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. KeyCorp’s payout ratio is presently 47.67%.

KeyCorp Company Profile

(Get Free Report)

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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