KeyCorp (NYSE:KEY) Price Target Raised to $19.50

KeyCorp (NYSE:KEY) had its price target upped by JPMorgan Chase & Co. from $19.00 to $19.50 in a report published on Friday,MarketScreener reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. UBS Group raised their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Citigroup reissued a “neutral” rating and issued a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, TD Cowen lifted their price target on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.86.

KeyCorp Stock Performance

KEY stock opened at $17.19 on Friday. The business’s fifty day moving average is $18.58 and its 200-day moving average is $17.03. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $18.85 billion, a P/E ratio of -245.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.15. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.KeyCorp’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.205 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.8%. KeyCorp’s dividend payout ratio (DPR) is presently -1,171.43%.

Insider Activity

In other news, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following 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 disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock worth $3,299,664 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after acquiring an additional 8,412,625 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after buying an additional 14,651,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of KeyCorp by 12.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after buying an additional 3,327,972 shares in the last quarter. Geode Capital Management LLC raised its position in shares of KeyCorp by 1.5% in the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock valued at $428,084,000 after buying an additional 359,573 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of KeyCorp by 2.4% in the second quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after buying an additional 488,730 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.