KeyCorp (NYSE:KEY) Receives $16.13 Average Price Target from Analysts

Shares of KeyCorp (NYSE:KEY) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.13.

Several equities analysts have recently issued reports on KEY shares. JPMorgan Chase & Co. lowered their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Evercore ISI decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th.

KeyCorp Price Performance

KEY stock opened at $14.45 on Monday. The firm has a 50 day moving average price of $14.54 and a 200-day moving average price of $14.62. KeyCorp has a 52-week low of $9.50 and a 52-week high of $16.50. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.87 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business earned $0.27 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently modified their holdings of the business. Impact Partnership Wealth LLC grew its position in shares of KeyCorp by 20.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 31,113 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 5,268 shares during the period. TD Asset Management Inc boosted its holdings in KeyCorp by 6.6% in the 2nd quarter. TD Asset Management Inc now owns 441,950 shares of the financial services provider’s stock worth $6,280,000 after buying an additional 27,406 shares during the period. Foundations Investment Advisors LLC bought a new position in KeyCorp in the 2nd quarter worth $158,000. Cozad Asset Management Inc. boosted its holdings in KeyCorp by 1.3% in the 2nd quarter. Cozad Asset Management Inc. now owns 136,866 shares of the financial services provider’s stock worth $1,945,000 after buying an additional 1,691 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in KeyCorp by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 80,993 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 910 shares during the period. 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.