KeyCorp (NYSE:KEY) Receives $23.40 Consensus Price Target from Brokerages

Shares of KeyCorp (NYSE:KEY) have been given an average rating of “Hold” by the twenty-four analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.40.

Several research analysts have recently commented on KEY shares. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, February 18th. Scotiabank reiterated a “buy” rating and issued a $36.00 target price on shares of KeyCorp in a research report on Friday, February 22nd. ValuEngine lowered KeyCorp from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. Nomura upgraded KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 target price for the company in a research report on Friday, March 29th. Finally, JPMorgan Chase & Co. lowered KeyCorp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $17.00 in a research report on Thursday, April 4th.

Shares of KEY opened at $17.07 on Tuesday. The company has a market capitalization of $17.16 billion, a PE ratio of 9.87, a PEG ratio of 1.20 and a beta of 1.23. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.60 billion. KeyCorp had a return on equity of 13.16% and a net margin of 24.18%. KeyCorp’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. Equities analysts expect that KeyCorp will post 1.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is 39.31%.

In related news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $17.00, for a total value of $225,046.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc raised its stake in KeyCorp by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock valued at $2,286,547,000 after acquiring an additional 1,604,187 shares in the last quarter. BlackRock Inc. raised its stake in KeyCorp by 15.6% during the 1st quarter. BlackRock Inc. now owns 80,357,523 shares of the financial services provider’s stock valued at $1,265,630,000 after acquiring an additional 10,824,887 shares in the last quarter. Boston Partners raised its stake in KeyCorp by 35.1% during the 4th quarter. Boston Partners now owns 41,244,050 shares of the financial services provider’s stock valued at $609,586,000 after acquiring an additional 10,713,851 shares in the last quarter. FMR LLC raised its stake in KeyCorp by 21.1% during the 1st quarter. FMR LLC now owns 18,418,818 shares of the financial services provider’s stock valued at $290,096,000 after acquiring an additional 3,204,467 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in KeyCorp by 8.4% during the 1st quarter. Geode Capital Management LLC now owns 14,394,989 shares of the financial services provider’s stock valued at $226,330,000 after acquiring an additional 1,110,901 shares in the last quarter. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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