KeyCorp (NYSE:KEY) Given Average Rating of “Moderate Buy” by Analysts

KeyCorp (NYSE:KEY) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.16.

Several analysts have commented on KEY shares. UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. DA Davidson lifted their price objective 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. Wells Fargo & Company upped their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th.

KeyCorp Price Performance

Shares of NYSE KEY opened at $17.14 on Thursday. The stock has a market cap of $16.99 billion, a P/E ratio of 1,714.00, a P/E/G ratio of 1.00 and a beta of 1.25. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04. The stock has a 50 day moving average of $18.28 and a two-hundred day moving average of $16.69. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

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

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a yield of 4.78%. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. 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 institutional investors and hedge funds have recently modified their holdings of KEY. Financial Advocates Investment Management raised its holdings in KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 602 shares during the last quarter. HM Payson & Co. increased its stake in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 650 shares during the last quarter. Graypoint LLC lifted its position in KeyCorp by 4.7% during the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after buying an additional 675 shares during the period. Vontobel Holding Ltd. boosted its stake in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after buying an additional 679 shares during the last quarter. Finally, Empirical Finance LLC increased its stake in shares of KeyCorp by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after acquiring an additional 705 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.