Analysts Set KeyCorp (NYSE:KEY) PT at $22.87

Shares of KeyCorp (NYSE:KEY) have received a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.9211.

KEY has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of KeyCorp from $22.00 to $24.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Wells Fargo & Company set a $18.00 price target on KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. DA Davidson set a $25.00 price objective on KeyCorp in a research report on Wednesday, January 21st. Stephens upped their target price on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Argus raised their price target on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 65,961 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the transaction, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 161,506 shares of company stock valued at $3,597,481. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Community Bank acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $27,000. Maseco LLP purchased a new position in KeyCorp in the fourth quarter valued at approximately $27,000. DV Equities LLC acquired a new position in KeyCorp during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new stake in KeyCorp during the fourth quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new stake in KeyCorp during the fourth quarter worth approximately $31,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Up 1.8%

KeyCorp stock opened at $21.86 on Tuesday. The stock has a market cap of $23.82 billion, a PE ratio of 14.38, a P/E/G ratio of 0.64 and a beta of 1.10. The stock has a 50-day moving average price of $21.52 and a 200 day moving average price of $19.53. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm’s quarterly revenue was up 131.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.