KeyCorp (NYSE:KEY) Stock Has Consensus Target Price of $48.83

Shares of KeyCorp (NYSE:KEY) have received an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.33.

Several equities analysts have weighed in on the company. Argus raised KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a research note on Thursday, October 1st. Jefferies Financial Group dropped their price objective on KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. Robert W. Baird boosted their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently modified their holdings of the company. GK Wealth Management LLC acquired a new stake in KeyCorp in the 3rd quarter worth about $30,000. Wedmont Private Capital grew its holdings in KeyCorp by 6.0% in the 3rd quarter. Wedmont Private Capital now owns 25,570 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,448 shares during the period. GAMMA Investing LLC increased its stake in shares of KeyCorp by 5.4% during the 3rd quarter. GAMMA Investing LLC now owns 53,291 shares of the financial services provider’s stock valued at $1,070,000 after acquiring an additional 2,746 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of KeyCorp by 102.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 124,552 shares of the financial services provider’s stock valued at $2,500,000 after acquiring an additional 63,016 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of KeyCorp by 2.4% during the 3rd quarter. Gradient Investments LLC now owns 982,819 shares of the financial services provider’s stock worth $19,725,000 after acquiring an additional 22,976 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 0.6%

Shares of KEY opened at $19.98 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $21.56 and a 200-day simple moving average of $21.81. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08.

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

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.2050 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 1st. KeyCorp’s payout ratio is currently 47.67%.

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.