JPMorgan Chase & Co. Cuts KeyCorp (NYSE:KEY) Price Target to $17.50

KeyCorp (NYSE:KEY) had its price objective cut by JPMorgan Chase & Co. from $18.00 to $17.50 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Jefferies Financial Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Argus boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an overweight rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $15.97.

KeyCorp Stock Up 1.5 %

Shares of KEY stock opened at $13.56 on Friday. The firm’s fifty day moving average price is $14.54 and its two-hundred day moving average price is $14.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The firm has a market capitalization of $12.79 billion, a P/E ratio of 17.16, a PEG ratio of 0.67 and a beta of 1.28.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, equities analysts predict that KeyCorp will post 1.13 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.05%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Institutional Trading of KeyCorp

Several large investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp in the first quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in KeyCorp in the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its position in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of KeyCorp during the first quarter worth $32,000. Finally, First United Bank & Trust acquired a new position in shares of KeyCorp during the fourth quarter worth $29,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.