KeyCorp (NYSE:KEY) Receives $19.75 Consensus Price Target from Analysts

Shares of KeyCorp (NYSE:KEY) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.64.

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial began coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reduced their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd.

KeyCorp Stock Performance

NYSE KEY opened at $15.15 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. The business has a fifty day moving average of $17.22 and a 200-day moving average of $17.44. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of -50.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.41%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

KeyCorp announced that its board has authorized a share repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Large investors have recently bought and sold shares of the business. Whittier Trust Co. increased its position in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after buying an additional 800 shares during the period. Ethos Financial Group LLC acquired a new stake in shares of KeyCorp in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new position in KeyCorp during the 4th quarter valued at about $28,000. Larson Financial Group LLC boosted its stake in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in KeyCorp in the 4th quarter worth about $34,000. Institutional investors own 79.69% of the company’s stock.

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.