KeyCorp (KEY) Research Coverage Started at Wedbush
Analysts at Wedbush began coverage on shares of KeyCorp (NYSE:KEY) in a note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.
KEY has been the topic of a number of other research reports. Nomura reaffirmed a “buy” rating on shares of KeyCorp in a research report on Saturday, July 9th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of KeyCorp in a research report on Saturday, July 9th. Barclays PLC reaffirmed a “sell” rating on shares of KeyCorp in a research report on Saturday, July 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $15.00 target price on shares of KeyCorp in a research report on Wednesday, July 27th. Finally, Vetr raised KeyCorp from a “buy” rating to a “strong-buy” rating and set a $13.77 target price on the stock in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.37.
Shares of KeyCorp (NYSE:KEY) traded down 0.24% during mid-day trading on Thursday, hitting $12.73. The company’s stock had a trading volume of 10,160,147 shares. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 13.16 and a beta of 1.21. The company has a 50-day moving average of $12.30 and a 200 day moving average of $11.91. KeyCorp has a 1-year low of $9.88 and a 1-year high of $14.01.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. On average, analysts expect that KeyCorp will post $1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, July 29th were issued a dividend of $0.085 per share. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.34 annualized dividend and a dividend yield of 2.67%. KeyCorp’s dividend payout ratio (DPR) is presently 35.42%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Foundry Partners LLC increased its position in shares of KeyCorp by 9.4% in the third quarter. Foundry Partners LLC now owns 862,574 shares of the financial services provider’s stock valued at $10,498,000 after buying an additional 74,263 shares during the period. Independent Portfolio Consultants Inc. bought a new position in shares of KeyCorp during the third quarter valued at about $433,000. Chevy Chase Trust Holdings Inc. increased its position in shares of KeyCorp by 25.5% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 903,413 shares of the financial services provider’s stock valued at $10,995,000 after buying an additional 183,811 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of KeyCorp during the second quarter valued at about $376,000. Finally, Kentucky Retirement Systems bought a new position in shares of KeyCorp during the second quarter valued at about $792,000. Institutional investors own 66.25% of the company’s stock.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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