KeyCorp (NYSE:KEY) Given Average Rating of “Hold” by Brokerages

Shares of KeyCorp (NYSE:KEYGet Rating) have been given a consensus rating of “Hold” by the seventeen research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.25.

A number of brokerages have commented on KEY. Barclays reduced their price target on shares of KeyCorp from $26.00 to $24.00 and set a “maintains” rating on the stock in a research report on Friday, July 22nd. Wolfe Research cut their target price on shares of KeyCorp from $23.00 to $17.00 and set an “underperform” rating on the stock in a report on Thursday, May 26th. Jefferies Financial Group cut their target price on shares of KeyCorp from $23.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, July 11th. The Goldman Sachs Group cut their target price on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Finally, Morgan Stanley lifted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 22nd.

KeyCorp Trading Up 0.7 %

Shares of KEY opened at $18.11 on Thursday. The firm’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $21.12. The company has a market capitalization of $16.89 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.45 and a beta of 1.32. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.81 and a quick ratio of 0.81. KeyCorp has a 1-year low of $16.41 and a 1-year high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.72 earnings per share. KeyCorp’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that KeyCorp will post 2.23 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Monday, August 29th. KeyCorp’s dividend payout ratio is currently 34.21%.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DeDora Capital Inc. purchased a new position in shares of KeyCorp in the 1st quarter worth about $28,000. Spectrum Management Group LLC purchased a new position in shares of KeyCorp in the 1st quarter worth about $35,000. TCTC Holdings LLC purchased a new position in shares of KeyCorp in the 1st quarter worth about $35,000. Tortoise Investment Management LLC raised its position in shares of KeyCorp by 119.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of KeyCorp in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 83.24% of the company’s stock.

KeyCorp Company Profile

(Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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