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

Shares of KeyCorp (NYSE:KEY) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.0263.

A number of brokerages have recently issued reports on KEY. Robert W. Baird set a $19.00 price target on KeyCorp and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Royal Bank Of Canada raised their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Keefe, Bruyette & Woods lifted their target price on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Piper Sandler upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, Argus increased their target price on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd.

KeyCorp Trading Up 0.5%

Shares of KeyCorp stock opened at $19.39 on Friday. 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 twelve month low of $12.73 and a twelve month high of $23.34. The firm has a market capitalization of $21.12 billion, a PE ratio of 12.75, a P/E/G ratio of 0.58 and a beta of 1.08. The firm’s 50-day moving average price is $21.09 and its 200 day moving average price is $19.66.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business earned $0.30 EPS. KeyCorp’s quarterly revenue was up 131.8% on a year-over-year basis. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

Insider Buying and Selling at KeyCorp

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

Institutional Trading of KeyCorp

Several large investors have recently added to or reduced their stakes in KEY. DV Equities LLC purchased a new position in shares of KeyCorp during the 4th quarter worth $27,000. Maseco LLP purchased a new stake in shares of KeyCorp in the fourth quarter valued at about $27,000. United Community Bank purchased a new stake in shares of KeyCorp in the third quarter valued at about $27,000. GoalVest Advisory LLC acquired a new stake in KeyCorp during the fourth quarter worth about $30,000. Finally, Smithfield Trust Co acquired a new stake in KeyCorp during the fourth quarter worth about $31,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.