KeyCorp (NYSE:KEY) Sets New 52-Week High – Still a Buy?

KeyCorp (NYSE:KEY) reached a new 52-week high on Friday . The company traded as high as $19.73 and last traded at $19.4750, with a volume of 8428265 shares. The stock had previously closed at $19.11.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KEY shares. JPMorgan Chase & Co. lifted their target price on shares of KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their target price on KeyCorp from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, December 1st. DA Davidson cut their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research report on Tuesday. Finally, Truist Financial lowered their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Eight equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.59.

KeyCorp Price Performance

The stock has a market cap of $21.05 billion, a PE ratio of 23.78, a P/E/G ratio of 0.58 and a beta of 1.11. The firm’s fifty day moving average price is $17.91 and its 200 day moving average price is $17.82. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business’s quarterly revenue was up 172.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. As a group, equities analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.3%. KeyCorp’s dividend payout ratio (DPR) is 101.23%.

Insider Buying and Selling at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

A number of institutional investors have recently made changes to their positions in KEY. Vanguard Group Inc. increased its holdings in shares of KeyCorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 14,651,281 shares in the last quarter. Wellington Management Group LLP increased its position in shares of KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after acquiring an additional 17,245,128 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock worth $487,882,000 after purchasing an additional 3,327,972 shares during the period. Finally, Geode Capital Management LLC raised its holdings in 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 acquiring an additional 359,573 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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.