KeyCorp (NYSE:KEY) Given New $21.00 Price Target at Barclays

KeyCorp (NYSE:KEY) had its price objective increased by Barclays from $19.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also issued reports on KEY. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. DA Davidson raised their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.47.

KeyCorp Trading Up 0.5 %

Shares of KEY opened at $17.38 on Monday. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 1,738.00, a PEG ratio of 1.00 and a beta of 1.27. The firm has a 50 day moving average price of $18.27 and a 200-day moving average price of $16.78. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. As a group, equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.72%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Trading of KeyCorp

A number of hedge funds have recently made changes to their positions in KEY. Mirae Asset Global Investments Co. Ltd. increased its position in KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after buying an additional 85,052 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth about $981,000. Dai ichi Life Insurance Company Ltd bought a new position in KeyCorp in the 3rd quarter worth about $798,000. Prospector Partners LLC bought a new position in KeyCorp in the 3rd quarter worth about $9,630,000. Finally, Natixis Advisors LLC grew its position in KeyCorp by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after purchasing an additional 104,689 shares during the last quarter. 79.69% of the stock is owned by 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; 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.