KeyCorp (NYSE:KEY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of KeyCorp (NYSE:KEY) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.38.

Several research analysts have issued reports on the company. Argus increased their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI lowered their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of KeyCorp in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th.

Institutional Trading of KeyCorp

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after buying an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after buying an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after buying an additional 289,258 shares during the last quarter. Aigen Investment Management LP purchased a new stake in KeyCorp in the fourth quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in KeyCorp in the fourth quarter worth $7,200,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Down 1.1 %

Shares of KeyCorp stock opened at $14.27 on Thursday. The stock’s 50-day moving average is $14.36 and its 200 day moving average is $14.46. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.72 and a beta of 1.26. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a one year low of $9.10 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. Equities research analysts anticipate that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Friday, May 24th. KeyCorp’s payout ratio is 103.80%.

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.