KeyCorp (NYSE:KEY) Price Target Raised to $25.00

KeyCorp (NYSE:KEY) had its price objective hoisted by TD Cowen from $24.00 to $25.00 in a research note released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on KEY. Morgan Stanley lifted their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. DA Davidson boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the stock an “underperform” rating in a report on Tuesday. Royal Bank Of Canada upped their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $19.50 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.33.

KeyCorp Stock Performance

NYSE:KEY opened at $21.22 on Wednesday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $21.75. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $23.19 billion, a PE ratio of 26.19, a PEG ratio of 0.53 and a beta of 1.09. The firm’s fifty day simple moving average is $19.42 and its 200 day simple moving average is $18.66.

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. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company’s revenue was up 172.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) EPS. On average, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.9%. KeyCorp’s dividend payout ratio (DPR) is 101.23%.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG acquired a new stake in KeyCorp during the 2nd quarter valued at approximately $337,000. Marshall Wace LLP lifted its holdings in shares of KeyCorp by 2,258.4% in the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after purchasing an additional 2,463,880 shares in the last quarter. Nordea Investment Management AB increased its position in shares of KeyCorp by 23.2% during the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock worth $1,867,000 after acquiring an additional 20,228 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of KeyCorp by 9.9% in the second quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after purchasing an additional 51,705 shares during the last quarter. Finally, Signal Advisors Wealth LLC purchased a new position in KeyCorp during the 2nd quarter worth $431,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.