KeyCorp (NYSE:KEY) Given New $24.50 Price Target at JPMorgan Chase & Co.

KeyCorp (NYSE:KEY) had its target price upped by JPMorgan Chase & Co. from $22.00 to $24.50 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on KEY. Robert W. Baird lowered KeyCorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group boosted their price target on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Stephens upped their price target on KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Wells Fargo & Company set a $18.00 price target on shares of KeyCorp and gave the company an “underperform” rating in a report on Tuesday, January 6th. Finally, Barclays boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, KeyCorp presently has an average rating of “Hold” and an average target price of $23.03.

KeyCorp Stock Down 0.8%

Shares of NYSE:KEY opened at $23.03 on Monday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.35. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.56 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $21.04 and a two-hundred day moving average of $19.20.

KeyCorp (NYSE:KEY) last issued its earnings results 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. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s revenue was up 131.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares in the company, valued at $5,633,493.25. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after buying an additional 17,245,128 shares during the period. Capital World Investors increased its stake in KeyCorp by 169.2% in the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after purchasing an additional 13,067,326 shares in the last quarter. Norges Bank acquired a new position in KeyCorp during the 2nd quarter worth approximately $195,642,000. HoldCo Asset Management LP bought a new position in shares of KeyCorp in the 2nd quarter worth $86,995,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of KeyCorp by 123.4% in the second quarter. JPMorgan Chase & Co. now owns 7,182,671 shares of the financial services provider’s stock valued at $125,122,000 after buying an additional 3,967,544 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

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.