KeyCorp (NYSE:KEY) Receives Consensus Rating of “Moderate Buy” from Brokerages

KeyCorp (NYSE:KEY) has received an average rating of “Moderate Buy” from the eighteen research firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.24.

KEY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Argus boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 target price on shares of KeyCorp in a research note on Tuesday, June 25th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $15.00 in a report on Monday. Finally, Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors L.P. grew its position in shares of KeyCorp by 53.0% in the 3rd quarter. Natixis Advisors L.P. now owns 212,733 shares of the financial services provider’s stock valued at $2,289,000 after purchasing an additional 73,689 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at approximately $199,000. Sei Investments Co. grew its position in shares of KeyCorp by 16.2% in the 3rd quarter. Sei Investments Co. now owns 2,253,346 shares of the financial services provider’s stock valued at $24,246,000 after purchasing an additional 314,226 shares during the period. Schroder Investment Management Group grew its position in shares of KeyCorp by 1.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,455,367 shares of the financial services provider’s stock valued at $15,660,000 after purchasing an additional 14,650 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of KeyCorp by 12.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,977,172 shares of the financial services provider’s stock valued at $42,794,000 after purchasing an additional 424,779 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Up 2.7 %

KEY opened at $14.68 on Thursday. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $14.31 and its two-hundred day moving average price is $14.46. The company has a market capitalization of $13.84 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.71 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its earnings results 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). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, analysts anticipate that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

About KeyCorp

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.