KeyCorp (KEY) Rating Reiterated by Morgan Stanley
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.
WARNING: “KeyCorp (KEY) Rating Reiterated by Morgan Stanley” was posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.watchlistnews.com/keycorp-key-rating-reiterated-by-morgan-stanley/1770787.html.
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.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with Analyst Ratings Network's FREE daily email newsletter.