KeyCorp (NYSE:KEY) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of KeyCorp (NYSE:KEY) in a report published on Tuesday,Benzinga reports. The firm issued a hold rating and a $19.00 price target on the financial services provider’s stock.

Several other equities research analysts have also issued reports on KEY. Barclays lifted their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday. Piper Sandler upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Wedbush increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. DA Davidson lifted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group increased their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.44.

KeyCorp Stock Down 0.9 %

Shares of NYSE KEY opened at $17.22 on Tuesday. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The business’s fifty day moving average price is $18.27 and its 200-day moving average price is $16.81. The stock has a market capitalization of $17.07 billion, a PE ratio of 1,722.00, a P/E/G ratio of 1.00 and a beta of 1.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.76%. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was 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.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. raised its position in shares of KeyCorp by 25.3% in the 4th quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 8,330 shares in the last quarter. GAMMA Investing LLC raised its holdings in KeyCorp by 23.0% in the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 5,687 shares in the last quarter. Versant Capital Management Inc lifted its position in KeyCorp by 44.6% during the fourth quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider’s stock valued at $61,000 after buying an additional 1,107 shares during the period. Franklin Resources Inc. boosted its holdings in shares of KeyCorp by 340.0% during the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after buying an additional 319,155 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of KeyCorp in the 3rd quarter worth about $395,000. 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.