KeyCorp (NYSE:KEY) Given Consensus Recommendation of “Hold” by Analysts

Shares of KeyCorp (NYSE:KEY) have been given an average recommendation of “Hold” by the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $22.7368.

A number of research analysts have weighed in on KEY shares. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Truist Financial lifted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. The Goldman Sachs Group upped their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Barclays increased their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada boosted their target price on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 12th.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the transaction, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. This represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after purchasing an additional 17,245,128 shares during the period. Capital World Investors lifted its holdings in shares of KeyCorp by 169.2% in the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after buying an additional 13,067,326 shares during the period. Norges Bank bought a new position in shares of KeyCorp during the 2nd quarter worth $195,642,000. HoldCo Asset Management LP bought a new position in shares of KeyCorp during the 2nd quarter worth $86,995,000. Finally, JPMorgan Chase & Co. increased its stake in shares of KeyCorp by 123.4% during the second quarter. JPMorgan Chase & Co. now owns 7,182,671 shares of the financial services provider’s stock valued at $125,122,000 after buying an additional 3,967,544 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Up 0.3%

KEY opened at $22.71 on Friday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $22.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $20.85 and a 200 day moving average of $19.13. The firm has a market cap of $24.82 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.55 and a beta of 1.10.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was up 131.8% on a year-over-year basis. As a group, research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

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.