KeyCorp (NYSE:KEY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of KeyCorp (NYSE:KEY) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $16.65.

KEY has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Citigroup increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th.

KeyCorp Trading Up 1.1 %

Shares of KeyCorp stock opened at $16.27 on Tuesday. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.20. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 0.89 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $15.88 and its 200-day moving average price is $15.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in KeyCorp during the first quarter valued at $25,000. Crewe Advisors LLC purchased a new position in shares of KeyCorp in the 1st quarter worth about $32,000. Quarry LP purchased a new position in shares of KeyCorp in the 4th quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new position in shares of KeyCorp in the 1st quarter worth about $39,000. Finally, Centerpoint Advisors LLC raised its position in shares of KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,107 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.