KeyCorp (NYSE:KEY) PT Lowered to $16.50 at Evercore ISI

KeyCorp (NYSE:KEY) had its price objective lowered by Evercore ISI from $17.50 to $16.50 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

KEY has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an overweight rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $18.00 to $17.50 and set a neutral rating on the stock in a research report on Friday, June 14th. Argus upped their price target on KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a report on Friday, April 19th. Finally, Royal Bank of Canada reissued an outperform rating and set a $41.00 price objective on shares of KeyCorp in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $17.38.

KeyCorp Stock Up 0.7 %

Shares of KeyCorp stock opened at $13.62 on Tuesday. KeyCorp has a 12-month low of $9.10 and a 12-month high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average price of $14.40 and a two-hundred day moving average price of $14.45. The stock has a market capitalization of $12.84 billion, a P/E ratio of 17.24, a PEG ratio of 0.69 and a beta of 1.28.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Equities analysts expect that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.82 annualized dividend and a yield of 6.02%. KeyCorp’s dividend payout ratio is 103.80%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KEY. Pathway Financial Advisers LLC bought a new position in KeyCorp in the 1st quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the 4th quarter worth about $26,000. Sound Income Strategies LLC grew its holdings in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the 3rd quarter valued at about $28,000. Finally, First United Bank & Trust bought a new position in shares of KeyCorp in the fourth quarter worth about $29,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.