KeyCorp (NYSE:KEY) Price Target Raised to $22.00 at Jefferies Financial Group

KeyCorp (NYSE:KEY) had its price objective raised by Jefferies Financial Group from $19.00 to $22.00 in a research note issued to investors on Wednesday morning,MarketScreener reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research firms have also issued reports on KEY. DA Davidson upped their target price on KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Evercore ISI lifted their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Cowen upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a report on Monday. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $21.26.

KeyCorp Stock Performance

Shares of KEY stock traded down $0.07 during trading hours on Wednesday, reaching $20.62. 17,219,369 shares of the company’s stock were exchanged, compared to its average volume of 17,143,762. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day moving average is $18.07 and its two-hundred day moving average is $17.97. The company has a market cap of $22.54 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 0.62 and a beta of 1.11. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.84.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned ($0.47) earnings per share. KeyCorp’s quarterly revenue was up 172.7% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.0%. KeyCorp’s dividend payout ratio (DPR) is presently 101.23%.

Institutional Trading of KeyCorp

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its holdings in shares of KeyCorp by 2,258.4% in the second quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after buying an additional 2,463,880 shares during the period. Nordea Investment Management AB boosted its holdings in KeyCorp by 23.2% in the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock worth $1,867,000 after purchasing an additional 20,228 shares in the last quarter. Prudential Financial Inc. grew its holdings in KeyCorp by 9.9% during the second quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock valued at $10,018,000 after purchasing an additional 51,705 shares during the last quarter. Signal Advisors Wealth LLC acquired a new position in shares of KeyCorp during the 2nd quarter worth about $431,000. Finally, Korea Investment CORP increased its holdings in shares of KeyCorp by 175.5% during the 2nd quarter. Korea Investment CORP now owns 447,252 shares of the financial services provider’s stock worth $7,791,000 after purchasing an additional 284,928 shares during the period. Institutional investors own 79.69% of the company’s stock.

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.