KeyCorp (NYSE:KEY) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

KeyCorp (NYSE:KEY) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.33.

Several research firms have issued reports on KEY. JPMorgan Chase & Co. cut their target price on KeyCorp from $24.50 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Evercore reiterated an “outperform” rating and issued a $24.00 target price on shares of KeyCorp in a report on Thursday, October 1st. Stephens reissued an “overweight” rating and set a $26.00 price target on shares of KeyCorp in a research report on Tuesday, September 15th. TD Cowen started coverage on shares of KeyCorp in a report on Thursday. They issued a “buy” rating and a $23.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd.

KeyCorp Stock Up 0.0%

Shares of NYSE KEY opened at $19.98 on Wednesday. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The stock’s fifty day simple moving average is $21.56 and its two-hundred day simple moving average is $21.82. The stock has a market capitalization of $21.32 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. As a group, analysts expect that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.2050 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. KeyCorp’s dividend payout ratio is presently 47.67%.

Institutional Trading of KeyCorp

Institutional investors have recently made changes to their positions in the business. MCF Advisors LLC lifted its holdings in KeyCorp by 31.6% in the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 456 shares during the period. EverSource Wealth Advisors LLC boosted its position in KeyCorp by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 522 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of KeyCorp by 1.7% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 556 shares during the period. V Square Quantitative Management LLC grew its stake in shares of KeyCorp by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 567 shares during the period. Finally, CX Institutional grew its stake in shares of KeyCorp by 4.6% during the 2nd quarter. CX Institutional now owns 13,346 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 581 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.