KeyCorp (NYSE:KEY) Receives $19.75 Consensus PT from Analysts

KeyCorp (NYSE:KEY) has received an average rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $19.64.

Several research firms have recently commented on KEY. Barclays raised their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Morgan Stanley lowered their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd.

KeyCorp Price Performance

Shares of KEY opened at $15.81 on Tuesday. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The stock has a market cap of $17.47 billion, a PE ratio of -52.68, a P/E/G ratio of 0.65 and a beta of 1.26. The firm has a 50-day simple moving average of $17.16 and a two-hundred day simple moving average of $17.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp announced that its board has authorized a share repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. KeyCorp’s payout ratio is currently -273.33%.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its holdings in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 800 shares during the period. Ethos Financial Group LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $28,000. Larson Financial Group LLC increased its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of KeyCorp in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.