Analysts Set KeyCorp (NYSE:KEY) Price Target at $17.38

KeyCorp (NYSE:KEYGet Free Report) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.24.

Several research firms have recently commented on KEY. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price objective on shares of KeyCorp in a report on Tuesday, June 25th. Jefferies Financial Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Argus boosted their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th.

Read Our Latest Stock Analysis on KEY

Institutional Trading of KeyCorp

Several hedge funds have recently made changes to their positions in KEY. Norges Bank bought a new stake in shares of KeyCorp in the fourth quarter valued at $128,203,000. Ceredex Value Advisors LLC bought a new stake in shares of KeyCorp in the fourth quarter valued at $64,421,000. Westfield Capital Management Co. LP bought a new stake in shares of KeyCorp in the first quarter valued at $42,857,000. Balyasny Asset Management L.P. raised its stake in shares of KeyCorp by 26,297.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock valued at $39,005,000 after buying an additional 2,698,403 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of KeyCorp by 1,051.3% during the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Up 2.7 %

Shares of KEY stock opened at $14.68 on Thursday. The company has a market cap of $13.84 billion, a P/E ratio of 18.58, a PEG ratio of 0.71 and a beta of 1.26. The stock has a 50 day simple moving average of $14.31 and a two-hundred day simple moving average of $14.46. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. Research analysts forecast that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. KeyCorp’s payout ratio is presently 103.80%.

KeyCorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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