KeyCorp (NYSE:KEY) Hits New 1-Year High at $17.25

Shares of KeyCorp (NYSE:KEY) reached a new 52-week high on Thursday . The company traded as high as $17.25 and last traded at $17.23, with a volume of 3000467 shares trading hands. The stock had previously closed at $16.59.

Analysts Set New Price Targets

A number of research firms have commented on KEY. Evercore ISI reduced their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Morgan Stanley boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.65.

KeyCorp Price Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average of $15.97 and a two-hundred day moving average of $15.07. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, research analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 103.80%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several hedge funds have recently bought and sold shares of KEY. Valeo Financial Advisors LLC boosted its stake in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 704 shares in the last quarter. Raymond James Trust N.A. lifted its stake in KeyCorp by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 724 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its position in KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after buying an additional 742 shares in the last quarter. Czech National Bank grew its stake in shares of KeyCorp by 0.5% during the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after buying an additional 788 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of KeyCorp by 1.7% during the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after buying an additional 837 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

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.