KeyCorp (NYSE:KEY) Given Consensus Rating of “Moderate Buy” by Brokerages

KeyCorp (NYSE:KEY) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $42.7750.

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Jefferies Financial Group boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. DA Davidson boosted their target price on shares of KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley dropped their target price on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st.

KeyCorp Stock Down 0.5%

NYSE:KEY opened at $21.99 on Thursday. The company has a market cap of $23.84 billion, a PE ratio of 13.49, a P/E/G ratio of 0.70 and a beta of 1.03. KeyCorp has a twelve month low of $15.59 and a twelve month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $21.44 and its two-hundred day moving average is $20.91.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company 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%. KeyCorp’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. Analysts anticipate that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. KeyCorp’s dividend payout ratio is 50.31%.

KeyCorp announced that its board has approved a stock repurchase plan 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 purchase up to 13% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider directly owned 281,564 shares of the company’s stock, valued at $6,098,676.24. This represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Several large investors have recently made changes to their positions in the business. MCF Advisors LLC boosted its holdings in shares of KeyCorp by 31.6% in the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 456 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 486 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of KeyCorp by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of KeyCorp by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 522 shares during the last quarter. Finally, Centennial Wealth Advisory LLC boosted its holdings in shares of KeyCorp by 1.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock valued at $929,000 after acquiring an additional 524 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.