KeyCorp (NYSE:KEY) Given Consensus Recommendation of “Hold” by Analysts

Shares of KeyCorp (NYSE:KEYGet Rating) have been assigned an average rating of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $23.37.

KEY has been the subject of several research analyst reports. TheStreet cut shares of KeyCorp from a “b” rating to a “c+” rating in a research report on Wednesday, August 3rd. Jefferies Financial Group dropped their price objective on shares of KeyCorp from $23.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, July 11th. The Goldman Sachs Group dropped their price objective on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Wells Fargo & Company lowered their target price on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of KeyCorp from $26.50 to $23.00 and set a “hold” rating for the company in a report on Monday, September 12th.

KeyCorp Stock Performance

NYSE:KEY opened at $16.58 on Friday. KeyCorp has a 1 year low of $16.41 and a 1 year high of $27.17. The firm has a 50 day moving average of $18.22 and a 200-day moving average of $19.36. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $15.46 billion, a P/E ratio of 7.27, a price-to-earnings-growth ratio of 0.43 and a beta of 1.30.

KeyCorp (NYSE:KEYGet Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. KeyCorp’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that KeyCorp will post 2.24 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th were issued a $0.195 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.70%. KeyCorp’s payout ratio is 34.21%.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total value of $91,468.00. Following the transaction, the director now directly owns 64,139 shares of the company’s stock, valued at approximately $1,128,205.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Several large investors have recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in KeyCorp by 65.9% in the 2nd quarter. Federated Hermes Inc. now owns 13,608,794 shares of the financial services provider’s stock valued at $234,479,000 after purchasing an additional 5,406,238 shares during the last quarter. Private Trust Co. NA bought a new position in KeyCorp in the 2nd quarter valued at approximately $122,000. B. Riley Wealth Management Inc. lifted its stake in KeyCorp by 82.5% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 16,440 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 7,433 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in KeyCorp by 174.5% in the 2nd quarter. Raleigh Capital Management Inc. now owns 48,388 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 30,759 shares during the last quarter. Finally, M&G Investment Management Ltd. lifted its stake in KeyCorp by 2.3% in the 2nd quarter. M&G Investment Management Ltd. now owns 565,729 shares of the financial services provider’s stock valued at $9,617,000 after purchasing an additional 12,518 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

About KeyCorp

(Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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