KeyCorp (NYSE:KEY) Given Average Recommendation of “Hold” by Brokerages

KeyCorp (NYSE:KEY) has received an average rating of “Hold” from the twenty-one research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.75.

Several equities analysts have commented on KEY shares. Jefferies Financial Group lowered their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Royal Bank Of Canada upped their price target on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. TD Cowen raised their price objective on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. UBS Group boosted their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Truist Financial lowered their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, October 17th.

KeyCorp Price Performance

NYSE KEY opened at $17.81 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.46 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $17.66.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. KeyCorp’s quarterly revenue was up 172.7% on a year-over-year basis. As a group, equities analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.6%. KeyCorp’s dividend payout ratio (DPR) is presently 101.23%.

Insider Buying and Selling

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider owned 245,044 shares of the company’s stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently made changes to their positions in the business. Prana Capital Management LP boosted its stake in KeyCorp by 1.8% during the 3rd quarter. Prana Capital Management LP now owns 4,135,751 shares of the financial services provider’s stock valued at $77,297,000 after purchasing an additional 72,261 shares during the period. CIBC Bancorp USA Inc. bought a new position in KeyCorp in the 3rd quarter worth approximately $2,403,000. Danske Bank A S acquired a new position in shares of KeyCorp during the third quarter worth approximately $7,134,000. Morningstar Investment Management LLC boosted its position in shares of KeyCorp by 379.3% in the third quarter. Morningstar Investment Management LLC now owns 93,894 shares of the financial services provider’s stock valued at $1,755,000 after acquiring an additional 74,306 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of KeyCorp by 0.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 726,397 shares of the financial services provider’s stock valued at $13,712,000 after acquiring an additional 5,406 shares during the period. 79.69% of the stock is currently owned by institutional investors.

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.