KeyCorp (NYSE:KEY) Given “Outperform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of KeyCorp (NYSE:KEY) in a report issued on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $18.00 target price on the financial services provider’s stock.

A number of other research firms also recently issued reports on KEY. Wedbush lifted their target price on KeyCorp from $16.00 to $17.00 and gave the company a neutral rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their target price on KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group lifted their target price on KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research report on Monday, August 19th. DA Davidson lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a buy rating in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $16.65.

KeyCorp Stock Performance

KEY opened at $16.09 on Tuesday. The business’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $15.01. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.20. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 0.88 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. KeyCorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Equities analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp in the first quarter valued at approximately $25,000. First United Bank & Trust acquired a new position in shares of KeyCorp during the fourth quarter worth $29,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp during the first quarter worth $32,000. Quarry LP acquired a new position in shares of KeyCorp during the fourth quarter worth $38,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp during the first quarter worth $39,000. 79.69% of the stock is currently owned by institutional investors.

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.