KeyCorp’s (KEY) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of KeyCorp (NYSE:KEY) in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $18.50 price target on the financial services provider’s stock.

KEY has been the subject of a number of other research reports. Morgan Stanley lowered their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Piper Sandler boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Trading Down 0.5 %

NYSE:KEY opened at $17.86 on Monday. The firm has a 50-day simple moving average of $17.81 and a 200-day simple moving average of $17.24. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The firm has a market cap of $17.70 billion, a P/E ratio of -59.51, a P/E/G ratio of 0.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after purchasing an additional 993,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares in the last quarter. Azora Capital LP acquired a new stake in KeyCorp in the 3rd quarter worth about $92,413,000. Finally, Assenagon Asset Management S.A. increased its stake in KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after buying an additional 3,668,168 shares in the last quarter. Institutional investors and hedge funds 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.