Analysts Set KeyCorp (NYSE:KEY) Price Target at $19.75

Shares of KeyCorp (NYSE:KEY) have been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.64.

Several research firms have recently commented on KEY. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley dropped their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Barclays increased their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler increased their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd.

Insider Activity

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in KeyCorp by 22.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 102,451 shares of the financial services provider’s stock worth $1,756,000 after purchasing an additional 18,790 shares during the last quarter. Centaurus Financial Inc. increased its position in shares of KeyCorp by 11.2% during the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 728 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of KeyCorp during the fourth quarter valued at about $7,141,000. LifeWealth Investments LLC acquired a new stake in shares of KeyCorp during the fourth quarter valued at about $362,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of KeyCorp by 17.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 30,516 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 4,432 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Up 0.8 %

Shares of KeyCorp stock opened at $15.81 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of -52.68, a PEG ratio of 0.65 and a beta of 1.26. The firm’s 50 day simple moving average is $17.16 and its two-hundred day simple moving average is $17.43.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

KeyCorp announced that its Board of Directors has approved a share buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.