KeyCorp (NYSE:KEY) Receives $21.79 Average Target Price from Analysts

KeyCorp (NYSE:KEY) has earned an average rating of “Hold” from the twenty-one analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.3333.

A number of brokerages recently commented on KEY. The Goldman Sachs Group lifted their price objective on KeyCorp from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen lifted their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson boosted their price target 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. Cowen reaffirmed a “buy” rating on shares of KeyCorp in a research note on Wednesday. Finally, Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the stock an “underperform” rating in a report on Tuesday.

KeyCorp Stock Performance

KEY stock opened at $21.22 on Monday. The company has a 50 day moving average price of $19.42 and a 200 day moving average price of $18.66. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $21.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $23.19 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09.

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

KeyCorp Dividend Announcement

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

Hedge Funds Weigh In On KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management increased its stake 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 valued at $25,000 after acquiring an additional 1,404 shares during the last quarter. United Community Bank bought a new position in KeyCorp during the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp during the fourth quarter valued at approximately $30,000. Tompkins Financial Corp bought a new stake in KeyCorp in the second quarter valued at approximately $26,000. Finally, True Wealth Design LLC increased its stake in KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,592 shares in the last quarter. Institutional investors 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.