KeyCorp (NYSE:KEY) Price Target Raised to $21.00

KeyCorp (NYSE:KEY) had its target price upped by Keefe, Bruyette & Woods from $20.50 to $21.00 in a report released on Friday morning,MarketScreener reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also commented on KEY. Jefferies Financial Group decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, September 24th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.86.

KeyCorp Trading Down 5.4%

NYSE:KEY opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of -245.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.15. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $17.03.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,102 shares of company stock valued at $3,299,664. Company insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Activest Wealth Management lifted its stake in KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new stake in KeyCorp in the 2nd quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in KeyCorp in the 1st quarter worth approximately $28,000. Elevation Point Wealth Partners LLC purchased a new stake in KeyCorp in the 2nd quarter worth approximately $36,000. Finally, FSC Wealth Advisors LLC purchased a new stake in KeyCorp in the 1st quarter worth approximately $34,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.