KeyCorp (NYSE:KEY) Receives Average Rating of “Hold” from Analysts

KeyCorp (NYSE:KEY) has received an average recommendation of “Hold” from the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.8684.

Several analysts have commented on KEY shares. Jefferies Financial Group upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Barclays upped 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. Argus raised their target price on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Truist Financial upped their price target on KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, TD Cowen reiterated a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th.

KeyCorp Stock Down 5.5%

Shares of NYSE KEY opened at $20.97 on Tuesday. The firm has a market capitalization of $22.92 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. KeyCorp has a 1 year low of $12.73 and a 1 year high of $23.34. The firm’s 50-day moving average is $21.48 and its 200-day moving average is $19.48.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping 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 $5.45 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. KeyCorp’s revenue for the quarter was up 131.8% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

Insider Activity at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the transaction, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares during the period. Capital World Investors raised its holdings in shares of KeyCorp by 169.2% during the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after acquiring an additional 13,067,326 shares during the period. Norges Bank bought a new stake in KeyCorp in the 4th quarter valued at $262,688,000. Eurizon Capital SGR S.p.A. bought a new stake in KeyCorp in the 4th quarter valued at $150,843,000. Finally, AQR Capital Management LLC boosted its stake in KeyCorp by 416.3% in the 4th quarter. AQR Capital Management LLC now owns 7,163,851 shares of the financial services provider’s stock worth $147,862,000 after purchasing an additional 5,776,417 shares during the period. 79.69% of the stock is currently 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.