KeyCorp (NYSE:KEY) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of KeyCorp (NYSE:KEY) in a research note released on Tuesday,Benzinga reports. The firm issued a hold rating and a $19.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Evercore ISI upped their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. DA Davidson lifted their price target on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.44.

KeyCorp Stock Down 0.9 %

NYSE KEY opened at $17.22 on Tuesday. The business has a fifty day moving average price of $18.27 and a two-hundred day moving average price of $16.81. The stock has a market capitalization of $17.07 billion, a PE ratio of 1,722.00, a PEG ratio of 1.00 and a beta of 1.27. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.76%. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents 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 owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. raised its stake in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after purchasing an additional 2,213,872 shares during the last quarter. Earnest Partners LLC lifted its position in shares of KeyCorp by 23.2% during the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after purchasing an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares in 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.