Brokerages Set KeyCorp (NYSE:KEY) Price Target at $19.44

Shares of KeyCorp (NYSE:KEY) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $19.58.

Several research firms recently commented on KEY. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. UBS Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. DA Davidson lowered their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Stephens reissued an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the company’s 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. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC increased its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at $28,000. Larson Financial Group LLC increased its position in shares of KeyCorp by 90.8% in the 3rd 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new position in KeyCorp during the third quarter worth about $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

NYSE:KEY opened at $17.69 on Monday. The firm has a market capitalization of $17.53 billion, a PE ratio of -58.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The firm has a 50-day moving average price of $18.03 and a 200 day moving average price of $17.11.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. 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 -273.33%.

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.