KeyCorp (NYSE:KEY) Receives $49.14 Consensus Price Target from Analysts

Shares of KeyCorp (NYSE:KEY) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $49.1389.

A number of research analysts have recently commented on KEY shares. Argus raised KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Royal Bank Of Canada upped their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, UBS Group increased their target price on shares of KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th.

KeyCorp Trading Down 1.0%

Shares of KEY stock opened at $21.88 on Tuesday. The company has a 50 day moving average of $22.92 and a 200-day moving average of $21.79. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The firm has a market cap of $23.35 billion, a P/E ratio of 12.72, a PEG ratio of 0.72 and a beta of 1.03.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. KeyCorp’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 annualized dividend and a yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

KeyCorp declared that its board has approved a stock buyback program on Wednesday, May 13th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 13% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DV Equities LLC purchased a new position in shares of KeyCorp during the 4th quarter valued at $27,000. N.E.W. Advisory Services LLC purchased a new stake in shares of KeyCorp in the second quarter worth $30,000. Silvant Capital Management LLC purchased a new stake in shares of KeyCorp in the second quarter worth $30,000. Smithfield Trust Co bought a new stake in KeyCorp during the fourth quarter valued at $31,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in KeyCorp during the second quarter valued at $31,000. 79.69% of the stock is currently owned by institutional investors.

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.