KeyCorp (NYSE:KEY) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

KeyCorp (NYSE:KEYGet Rating) had its price objective lowered by JPMorgan Chase & Co. from $17.00 to $16.00 in a report published on Monday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on KEY. DA Davidson began coverage on KeyCorp in a report on Tuesday, December 20th. They issued a buy rating and a $20.00 target price for the company. TheStreet raised KeyCorp from a c+ rating to a b rating in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft dropped their target price on KeyCorp from $23.00 to $20.00 in a report on Friday, January 6th. Royal Bank of Canada dropped their target price on KeyCorp from $29.00 to $24.00 and set an outperform rating for the company in a report on Friday, October 21st. Finally, StockNews.com cut KeyCorp from a hold rating to a sell rating in a report on Tuesday, January 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $19.92.

KeyCorp Price Performance

NYSE KEY opened at $18.07 on Monday. The company has a 50 day simple moving average of $17.83 and a 200-day simple moving average of $17.77. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 9.41 and a beta of 1.29. KeyCorp has a 52-week low of $15.26 and a 52-week high of $27.10.

KeyCorp (NYSE:KEYGet Rating) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.17). KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts predict that KeyCorp will post 2.14 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.54%. KeyCorp’s payout ratio is 42.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in KeyCorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock valued at $2,488,691,000 after buying an additional 1,278,193 shares during the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 1.7% in the 3rd quarter. BlackRock Inc. now owns 84,008,314 shares of the financial services provider’s stock worth $1,345,815,000 after purchasing an additional 1,414,839 shares during the last quarter. State Street Corp boosted its position in shares of KeyCorp by 4.9% in the 3rd quarter. State Street Corp now owns 51,201,153 shares of the financial services provider’s stock worth $820,242,000 after purchasing an additional 2,399,018 shares during the last quarter. Boston Partners boosted its position in shares of KeyCorp by 5.6% in the 3rd quarter. Boston Partners now owns 32,450,273 shares of the financial services provider’s stock worth $520,135,000 after purchasing an additional 1,718,852 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of KeyCorp by 0.6% in the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock worth $491,578,000 after purchasing an additional 136,741 shares during the last quarter. 82.11% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

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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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