DA Davidson Cuts KeyCorp (NYSE:KEY) Price Target to $21.00

KeyCorp (NYSE:KEY) had its price objective lowered by DA Davidson from $22.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for KeyCorp’s Q1 2025 earnings at $0.34 EPS and FY2025 earnings at $1.73 EPS.

KEY has been the subject of several other reports. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Evercore ISI increased their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group raised their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley reduced their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Price Performance

Shares of NYSE KEY opened at $17.69 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $18.06 and a 200 day moving average price of $17.07. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.32%.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after buying an additional 85,052 shares during the last quarter. Avanza Fonder AB acquired a new stake in KeyCorp in the 4th quarter worth about $1,618,000. MBB Public Markets I LLC acquired a new position in shares of KeyCorp in the 2nd quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd acquired a new position in KeyCorp during the 3rd quarter worth approximately $798,000. Finally, Prospector Partners LLC acquired a new position in KeyCorp during the 3rd quarter worth approximately $9,630,000. 79.69% of the stock is owned by institutional investors and hedge funds.

About KeyCorp

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.