KeyCorp (NYSE:KEY) Given Consensus Rating of “Hold” by Analysts

KeyCorp (NYSE:KEY) has been given an average rating of “Hold” by the twenty brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.6842.

Several analysts have recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Argus raised their price target on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler lifted their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Keefe, Bruyette & Woods upped their price objective on KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Barclays raised their price objective on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 5th.

Insider Activity

In related news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

Several institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management boosted its holdings in 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 acquiring an additional 1,404 shares during the period. United Community Bank purchased a new position in KeyCorp in the 3rd quarter worth approximately $27,000. Maseco LLP bought a new stake in KeyCorp in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $30,000. Finally, Sachetta LLC grew its holdings in shares of KeyCorp by 1,246.1% in the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

Shares of KEY opened at $21.66 on Friday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $22.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a market cap of $23.67 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09. The stock has a 50-day moving average price of $20.44 and a 200-day moving average price of $18.99.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm posted $0.30 earnings per share. KeyCorp’s quarterly revenue was up 131.8% on a year-over-year basis. As a group, equities analysts forecast 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 will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s payout ratio is presently 53.95%.

About KeyCorp

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.