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

KeyCorp (NYSE:KEY) has received an average rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.16.

Several equities analysts have weighed in on KEY shares. Piper Sandler lifted their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. DA Davidson raised their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods lifted their target price on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Large investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC boosted its position in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of KeyCorp during the 3rd quarter valued at $28,000. Larson Financial Group LLC increased its holdings in shares of KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of KeyCorp in the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new position in KeyCorp in the third quarter valued at $38,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.73 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $18.56 billion, a P/E ratio of 1,872.50, a P/E/G ratio of 1.04 and a beta of 1.25. The firm’s 50 day moving average price is $18.01 and its 200-day moving average price is $16.21. KeyCorp has a one year low of $12.94 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. As a group, equities research analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

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.