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

KeyCorp (NYSE:KEY) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $16.65.

KEY has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wedbush boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. DA Davidson increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th.

KeyCorp Stock Performance

NYSE KEY opened at $17.34 on Tuesday. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.90 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a twelve month low of $9.50 and a twelve month high of $17.39. The stock has a fifty day simple moving average of $16.01 and a 200 day simple moving average of $15.08.

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

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.73%. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the 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 completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Institutional investors have recently made changes to their positions in the company. Bluefin Capital Management LLC lifted its position in shares of KeyCorp by 201.2% during the second quarter. Bluefin Capital Management LLC now owns 78,300 shares of the financial services provider’s stock valued at $1,113,000 after purchasing an additional 52,300 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of KeyCorp during the 2nd quarter worth approximately $845,000. Kimelman & Baird LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth approximately $114,000. NewEdge Advisors LLC grew its holdings in shares of KeyCorp by 58.3% in the second quarter. NewEdge Advisors LLC now owns 71,388 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 26,285 shares in the last quarter. Finally, Creative Planning increased its position in shares of KeyCorp by 1.4% during the second quarter. Creative Planning now owns 138,293 shares of the financial services provider’s stock valued at $1,965,000 after acquiring an additional 1,969 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

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.