KeyCorp (NYSE:KEY) Price Target Raised to $23.00 at Stephens

KeyCorp (NYSE:KEY) had its price objective raised by Stephens from $21.00 to $23.00 in a research note released on Thursday morning,MarketScreener reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group reissued a “positive” rating on shares of KeyCorp in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised their target price on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Evercore ISI increased their price target on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, TD Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, December 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

KeyCorp Stock Up 0.2%

Shares of NYSE:KEY opened at $20.99 on Thursday. The stock has a market capitalization of $22.94 billion, a P/E ratio of 25.91, a PEG ratio of 0.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.11. The stock has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $18.14.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The business’s quarterly revenue was up 172.7% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Tuesday, December 2nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, December 2nd. KeyCorp’s dividend payout ratio is presently 101.23%.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Activest Wealth Management boosted its stake in KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares during the period. Tompkins Financial Corp acquired a new stake in shares of KeyCorp in the 2nd quarter worth approximately $26,000. United Community Bank bought a new position in shares of KeyCorp in the third quarter valued at approximately $27,000. Sachetta LLC increased its stake in shares of KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,595 shares during the period. Finally, Kelleher Financial Advisors bought a new stake in KeyCorp during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.