KeyCorp (NYSE:KEY) Receives $23.43 Consensus Price Target from Brokerages

Shares of KeyCorp (NYSE:KEY) have earned an average recommendation of “Hold” from the twenty-six research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.60.

A number of research analysts have recently commented on KEY shares. Wedbush upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. ValuEngine raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank lowered KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Friday, October 25th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Wednesday, November 6th. Finally, Morgan Stanley cut their price objective on KeyCorp from $21.00 to $20.50 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd.

Shares of KEY stock traded up $0.36 during trading hours on Tuesday, reaching $19.66. 11,257,015 shares of the stock were exchanged, compared to its average volume of 10,396,947. KeyCorp has a 12-month low of $13.65 and a 12-month high of $19.77. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $18.81 and its 200-day moving average price is $17.58. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.65 and a beta of 1.31.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. On average, sell-side analysts expect that KeyCorp will post 1.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Monday, December 2nd. KeyCorp’s dividend payout ratio (DPR) is presently 42.77%.

In other KeyCorp news, insider Amy G. Brady sold 10,806 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total transaction of $194,724.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,515 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $18.07, for a total transaction of $171,936.05. Following the transaction, the director now directly owns 70,640 shares in the company, valued at approximately $1,276,464.80. The disclosure for this sale can be found here. Insiders sold a total of 673,027 shares of company stock valued at $12,352,973 over the last quarter. Company insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. Vanguard Group Inc. boosted its position in KeyCorp by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 112,955,500 shares of the financial services provider’s stock valued at $2,004,961,000 after acquiring an additional 415,547 shares in the last quarter. State Street Corp lifted its stake in shares of KeyCorp by 1.1% during the 3rd quarter. State Street Corp now owns 50,413,657 shares of the financial services provider’s stock worth $899,380,000 after purchasing an additional 554,860 shares during the last quarter. Invesco Ltd. boosted its position in KeyCorp by 2.3% during the second quarter. Invesco Ltd. now owns 17,028,799 shares of the financial services provider’s stock valued at $302,262,000 after purchasing an additional 381,757 shares in the last quarter. Bank of America Corp DE boosted its position in KeyCorp by 1.0% during the second quarter. Bank of America Corp DE now owns 14,076,297 shares of the financial services provider’s stock valued at $249,854,000 after purchasing an additional 142,938 shares in the last quarter. Finally, Northern Trust Corp grew its stake in KeyCorp by 1.1% in the second quarter. Northern Trust Corp now owns 11,798,679 shares of the financial services provider’s stock valued at $209,426,000 after purchasing an additional 133,547 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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