KeyCorp (NYSE:KEY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of KeyCorp (NYSE:KEY) have been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $21.2647.

A number of equities research analysts have recently issued reports on KEY shares. DA Davidson increased their price target on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. TD Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, December 9th. Truist Financial cut their price target on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, October 17th. UBS Group boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd.

KeyCorp Trading Down 0.9%

Shares of KEY stock opened at $20.47 on Thursday. The company has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $18.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.88. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 0.62 and a beta of 1.11.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned ($0.47) EPS. The business’s revenue for the quarter was up 172.7% on a year-over-year basis. Research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.0%. KeyCorp’s payout ratio is presently 101.23%.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in KeyCorp by 40.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock worth $814,756,000 after buying an additional 14,651,281 shares in the last quarter. Wellington Management Group LLP raised its position in shares of KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after buying an additional 17,245,128 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock worth $487,882,000 after acquiring an additional 3,327,972 shares during the last quarter. Geode Capital Management LLC grew its position in KeyCorp by 1.5% in the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after acquiring an additional 359,573 shares in the last quarter. Finally, Invesco Ltd. grew its position in KeyCorp by 2.4% in the second quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock worth $367,783,000 after acquiring an additional 488,730 shares in the last quarter. 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.