Keefe, Bruyette & Woods Cuts KeyCorp (NYSE:KEY) Price Target to $21.00

KeyCorp (NYSE:KEY) had its target price trimmed by Keefe, Bruyette & Woods from $22.00 to $21.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI increased their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday. DA Davidson boosted their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial began coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target for the company. Finally, Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $19.58.

KeyCorp Trading Up 1.2 %

KEY opened at $17.69 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average is $18.06 and its two-hundred day moving average is $17.07. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.32%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of KeyCorp during the third quarter worth $28,000. Larson Financial Group LLC raised its position in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $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 third quarter worth about $35,000. Finally, Capital Performance Advisors LLP acquired a new position in KeyCorp during the third quarter worth about $38,000. Hedge funds and other institutional investors own 79.69% 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 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.