Morgan Stanley reiterated their overweight rating on shares of KeyCorp (NYSE:KEY) in a research note published on Thursday morning. Morgan Stanley currently has a $23.00 target price on the financial services provider’s stock.

KEY has been the topic of several other reports. Zacks Investment Research upgraded KeyCorp from a sell rating to a hold rating in a research report on Monday, October 23rd. ValuEngine upgraded KeyCorp from a hold rating to a buy rating in a research report on Friday, December 1st. Citigroup raised their price target on KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, October 9th. Robert W. Baird restated a hold rating and issued a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. Finally, Sanford C. Bernstein upgraded KeyCorp from a market perform rating to an outperform rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $21.28.

KeyCorp (NYSE:KEY) opened at $19.76 on Thursday. The company has a market capitalization of $21,249.90, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.15.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. equities research analysts predict that KeyCorp will post 1.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, November 27th. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio (DPR) is presently 36.84%.

In other KeyCorp news, Director Elizabeth R. Gile acquired 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, with a total value of $25,048.02. Following the purchase, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the sale, the director now directly owns 68,725 shares in the company, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock worth $1,060,508 in the last ninety days. 0.65% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of KEY. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after purchasing an additional 1,765,263 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of KeyCorp in the 3rd quarter valued at about $447,000. GSA Capital Partners LLP raised its stake in shares of KeyCorp by 21.1% in the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after purchasing an additional 8,937 shares during the period. California Public Employees Retirement System raised its stake in shares of KeyCorp by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 2,992,221 shares of the financial services provider’s stock valued at $56,314,000 after purchasing an additional 74,117 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of KeyCorp by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 18,181 shares during the period. 81.20% of the stock is currently owned by institutional investors and hedge funds.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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