Brokerages Set KeyCorp (NYSE:KEY) PT at $16.65

KeyCorp (NYSE:KEY) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.65.

Several equities analysts have weighed in on KEY shares. Morgan Stanley increased their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Wedbush lifted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 704 shares during the last quarter. Raymond James Trust N.A. grew its holdings in KeyCorp by 2.5% during the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 724 shares during the period. Caldwell Sutter Capital Inc. grew its holdings in KeyCorp by 3.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 742 shares during the period. Czech National Bank increased its position in KeyCorp by 0.5% during the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after buying an additional 788 shares during the last quarter. Finally, CWM LLC raised its stake in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after buying an additional 837 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Down 1.8 %

Shares of NYSE KEY opened at $16.81 on Tuesday. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39. The firm’s 50-day moving average is $16.08 and its 200-day moving average is $15.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $15.85 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.88%. KeyCorp’s payout ratio is currently 103.80%.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.