KeyCorp (NYSE:KEY) has earned an average recommendation of “Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.53.
Several analysts have commented on KEY shares. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Morgan Stanley raised their price objective on KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. ValuEngine lowered KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Vining Sparks reissued a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a report on Friday, April 6th. Finally, Susquehanna Bancshares raised KeyCorp from a “neutral” rating to a “positive” rating and raised their price objective for the company from $24.00 to $25.00 in a report on Tuesday, April 24th.
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In other news, insider Edward J. Burke sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total value of $198,300.00. Following the transaction, the insider now owns 126,526 shares in the company, valued at $2,509,010.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KEY. American International Group Inc. lifted its position in KeyCorp by 10.2% during the fourth quarter. American International Group Inc. now owns 432,440 shares of the financial services provider’s stock worth $8,722,000 after buying an additional 39,979 shares in the last quarter. Norinchukin Bank The raised its position in KeyCorp by 11.4% in the fourth quarter. Norinchukin Bank The now owns 53,914 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 5,513 shares during the period. First Republic Investment Management Inc. raised its position in KeyCorp by 22.2% in the fourth quarter. First Republic Investment Management Inc. now owns 26,243 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 4,761 shares during the period. Brown Advisory Inc. raised its position in KeyCorp by 18.0% in the fourth quarter. Brown Advisory Inc. now owns 25,872 shares of the financial services provider’s stock valued at $522,000 after purchasing an additional 3,952 shares during the period. Finally, Equity Investment Corp raised its position in KeyCorp by 44.9% in the fourth quarter. Equity Investment Corp now owns 17,000 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 5,270 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.
KeyCorp traded down $0.06, hitting $19.54, during midday trading on Tuesday, MarketBeat.com reports. 13,045,897 shares of the company were exchanged, compared to its average volume of 9,526,882. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.40. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $0.32 earnings per share. KeyCorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts expect that KeyCorp will post 1.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, May 25th. This is an increase from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s dividend payout ratio (DPR) is 35.29%.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.