KeyCorp (NYSE:KEY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

KeyCorp (NYSE:KEYGet Free Report) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.00.

Several analysts have commented on KEY shares. Keefe, Bruyette & Woods decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. Morgan Stanley upped their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler upped their price target on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday.

View Our Latest Stock Analysis on KEY

KeyCorp Stock Up 1.1 %

KEY opened at $15.81 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The firm’s fifty day moving average is $14.52 and its 200 day moving average is $12.97. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 17.76 and a beta of 1.27.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter in the previous year, the company earned $0.38 EPS. On average, sell-side analysts forecast that KeyCorp will post 1.18 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.205 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.82 annualized dividend and a dividend yield of 5.19%. KeyCorp’s payout ratio is presently 92.13%.

Insider Activity at KeyCorp

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock valued at $303,914 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new stake in shares of KeyCorp in the fourth quarter worth $272,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in KeyCorp during the fourth quarter valued at $6,277,000. Wellington Management Group LLP grew its position in KeyCorp by 104.4% during the fourth quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock valued at $5,867,000 after buying an additional 208,077 shares during the period. Congress Asset Management Co. MA acquired a new stake in KeyCorp during the fourth quarter valued at $157,000. Finally, Quarry LP acquired a new stake in KeyCorp during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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