KeyCorp (NYSE:KEY) Upgraded at TD Cowen

TD Cowen upgraded shares of KeyCorp (NYSE:KEY) from a hold rating to a buy rating in a report published on Tuesday morning, Marketbeat reports. They currently have $24.00 price target on the financial services provider’s stock.

A number of other analysts have also issued reports on KEY. UBS Group raised their target price on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. DA Davidson reduced their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price objective on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Truist Financial dropped their target price on KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $20.91.

KeyCorp Trading Up 0.8%

KeyCorp stock opened at $20.68 on Tuesday. The stock has a market cap of $22.60 billion, a PE ratio of 25.53, a P/E/G ratio of 0.61 and a beta of 1.11. The stock has a 50-day moving average price of $18.03 and a 200 day moving average price of $17.93. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.82. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm earned ($0.47) EPS. The firm’s quarterly revenue was up 172.7% on a year-over-year basis. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, December 2nd. KeyCorp’s dividend payout ratio is presently 101.23%.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares during the period. Tompkins Financial Corp acquired a new stake in KeyCorp during the 2nd quarter worth approximately $26,000. United Community Bank purchased a new position in KeyCorp in the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp in the first quarter valued at approximately $28,000. Finally, Sachetta LLC lifted its position in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,595 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.