KeyCorp (NYSE:KEY – Free Report) had its price objective raised by Morgan Stanley from $12.00 to $16.00 in a report issued on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set an equal weight rating for the company in a report on Friday, January 19th. Piper Sandler raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an overweight rating in a report on Friday, January 26th. Jefferies Financial Group upgraded shares of KeyCorp from a hold rating to a buy rating and raised their target price for the company from $10.00 to $17.00 in a report on Tuesday, January 9th. Wedbush dropped their target price on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating for the company in a report on Friday, January 19th. Finally, Royal Bank of Canada lifted their price target on shares of KeyCorp from $13.00 to $15.00 and gave the stock an outperform rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of Moderate Buy and a consensus target price of $15.00.
KeyCorp Stock Performance
KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $0.38 EPS. Equities research analysts predict that KeyCorp will post 1.23 earnings per share for the current fiscal year.
KeyCorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 27th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.90%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is 92.13%.
Insiders Place Their Bets
In other KeyCorp news, CAO Douglas M. Schosser sold 14,383 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $13.37, for a total transaction of $192,300.71. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at $264,659.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.
Institutional Investors Weigh In On KeyCorp
Institutional investors have recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in shares of KeyCorp in the third quarter valued at $28,000. Tortoise Investment Management LLC boosted its stake in shares of KeyCorp by 47.8% in the second quarter. Tortoise Investment Management LLC now owns 3,094 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Finally, Concord Wealth Partners boosted its stake in shares of KeyCorp by 330.8% in the second quarter. Concord Wealth Partners now owns 3,136 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,408 shares during the period. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
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; 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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