KeyCorp (NYSE:KEY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of KeyCorp (NYSE:KEY) have earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.7941.

Several research firms have commented on KEY. Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group reissued a “positive” rating on shares of KeyCorp in a report on Wednesday, December 10th. UBS Group lifted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Morgan Stanley upped their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, DA Davidson raised their target price on KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th.

KeyCorp Stock Up 1.6%

KeyCorp stock opened at $20.97 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $22.91 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.52 and a beta of 1.09. The business has a fifty day moving average of $19.04 and a two-hundred day moving average of $18.52. KeyCorp has a twelve month low of $12.73 and a twelve month high of $21.25.

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

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.9%. KeyCorp’s payout ratio is currently 101.23%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management raised its position in shares of KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares during the period. Tompkins Financial Corp acquired a new stake in KeyCorp during the second quarter worth $26,000. United Community Bank purchased a new stake in KeyCorp in the third quarter valued at $27,000. Sachetta LLC lifted its stake in shares of KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of KeyCorp during the 3rd quarter worth $32,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.