KeyCorp (NYSE:KEY) PT Raised to $18.00

KeyCorp (NYSE:KEY) had its target price upped by Morgan Stanley from $16.00 to $18.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

KEY has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada raised their price target on KeyCorp from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, July 19th. Evercore ISI dropped their price objective on KeyCorp from $17.50 to $16.50 and set an outperform rating on the stock in a report on Tuesday, June 25th. Wedbush raised their target price on KeyCorp from $15.00 to $16.00 and gave the company a neutral rating in a report on Friday, July 19th. Finally, Jefferies Financial Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a buy rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.25.

KeyCorp Trading Up 2.5 %

NYSE:KEY opened at $14.54 on Monday. KeyCorp has a 12-month low of $9.50 and a 12-month high of $16.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $14.55 and its 200-day simple moving average is $14.63. The firm has a market cap of $13.71 billion, a P/E ratio of 18.41, a PEG ratio of 0.77 and a beta of 1.26.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Equities analysts anticipate that KeyCorp will post 1.12 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KEY. Nisa Investment Advisors LLC grew its holdings in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after buying an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in KeyCorp by 35.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after purchasing an additional 86,579 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after purchasing an additional 289,258 shares in the last quarter. Aigen Investment Management LP acquired a new position in KeyCorp in the 4th quarter valued at about $1,556,000. Finally, Miller Howard Investments Inc. NY purchased a new position in KeyCorp in the 4th quarter valued at about $7,200,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

About KeyCorp

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.