Brokerages Set KeyCorp (NYSE:KEY) Target Price at $23.03

KeyCorp (NYSE:KEY) has received a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.9737.

KEY has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, December 10th. The Goldman Sachs Group increased their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Morgan Stanley raised their price target on shares of KeyCorp from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Stephens boosted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the sale, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 161,506 shares of company stock valued at $3,597,481. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its holdings in KeyCorp by 2,258.4% in the second quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after purchasing an additional 2,463,880 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of KeyCorp by 2.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock valued at $37,641,000 after purchasing an additional 53,682 shares during the period. Synovus Financial Corp bought a new position in shares of KeyCorp during the 3rd quarter worth about $2,253,000. Prudential Financial Inc. boosted its position in shares of KeyCorp by 9.9% during the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after purchasing an additional 51,705 shares in the last quarter. Finally, HoldCo Asset Management LP acquired a new stake in shares of KeyCorp in the 2nd quarter valued at about $86,995,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

NYSE KEY opened at $19.43 on Friday. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.64 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a twelve month low of $12.73 and a twelve month high of $23.34. The stock has a fifty day simple moving average of $20.96 and a 200 day simple moving average of $19.69.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. Sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were issued a $0.205 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.2%. KeyCorp’s payout ratio is presently 53.95%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.