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

KeyCorp (NYSE:KEY) has been given an average rating of “Moderate Buy” by the twenty brokerages that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $49.1389.

Several equities research analysts have recently commented on KEY shares. Wells Fargo & Company boosted their price objective on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, July 6th. TD Cowen reiterated a “buy” rating and issued a $68.00 target price on shares of KeyCorp in a report on Tuesday, June 23rd. Royal Bank Of Canada lifted their price target on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Argus upgraded shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, DA Davidson restated a “buy” rating and set a $28.00 price objective on shares of KeyCorp in a report on Wednesday, July 22nd.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Core Capital Management & Research inc. bought a new position in KeyCorp in the 2nd quarter valued at about $164,000. Sequoia Financial Advisors LLC increased its holdings in 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 purchasing an additional 26,514 shares in the last quarter. National Pension Service increased its holdings in KeyCorp by 2.2% during the 2nd quarter. National Pension Service now owns 627,750 shares of the financial services provider’s stock worth $14,470,000 after purchasing an additional 13,539 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of KeyCorp by 1,691.3% in the second quarter. WINTON GROUP Ltd now owns 244,695 shares of the financial services provider’s stock worth $5,640,000 after purchasing an additional 231,035 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of KeyCorp in the second quarter worth approximately $2,162,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $20.70 on Friday. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.82 and a beta of 1.02. The business has a 50-day simple moving average of $22.48 and a 200 day simple moving average of $21.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, research analysts anticipate that KeyCorp will post 1.83 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is currently 47.67%.

About KeyCorp

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.