KeyCorp (NYSE:KEY) Price Target Increased to $18.00 by Analysts at Wedbush

KeyCorp (NYSE:KEY) had its price target increased by Wedbush from $17.00 to $18.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for KeyCorp’s Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.04 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.42 EPS and FY2026 earnings at $1.65 EPS.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a buy rating in a report on Monday, August 19th. Royal Bank of Canada reiterated an outperform rating and issued a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Citigroup raised their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Morgan Stanley increased their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, KeyCorp presently has an average rating of Moderate Buy and an average price target of $16.71.

KeyCorp Price Performance

Shares of KEY opened at $16.61 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market cap of $15.66 billion, a PE ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.39. The business has a 50-day simple moving average of $16.11 and a two-hundred day simple moving average of $15.15.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

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 dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.94%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in KeyCorp in the 1st quarter valued at about $25,000. Crewe Advisors LLC bought a new position in shares of KeyCorp in the first quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $38,000. Fidelis Capital Partners LLC bought a new stake in KeyCorp during the first quarter worth $39,000. Finally, Centerpoint Advisors LLC boosted its position in KeyCorp by 127.7% in the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,107 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

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.