KeyCorp (NYSE:KEY) PT Raised to $19.00 at Jefferies Financial Group

KeyCorp (NYSE:KEY) had its price objective lifted by Jefferies Financial Group from $18.00 to $19.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reissued an outperform rating and issued a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an outperform rating for the company in a research note on Tuesday, June 25th. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. DA Davidson lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock a buy rating in a research report on Friday, July 19th. Finally, Citigroup boosted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $16.65.

KeyCorp Stock Performance

NYSE KEY opened at $16.43 on Monday. The business’s 50 day moving average price is $14.99 and its 200-day moving average price is $14.74. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.09. The company has a market cap of $15.49 billion, a P/E ratio of 20.79, a P/E/G ratio of 0.91 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 posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business 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%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Sell-side analysts predict that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its stake in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 704 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of KeyCorp by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 724 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its stake in KeyCorp by 3.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 742 shares in the last quarter. Czech National Bank grew its position in KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after purchasing an additional 788 shares during the last quarter. Finally, CWM LLC increased its stake in KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after purchasing an additional 837 shares in 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.