Analysts Set KeyCorp (NYSE:KEY) PT at $49.14

KeyCorp (NYSE:KEY) has received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.1389.

KEY has been the subject of several analyst reports. Truist Financial raised their price objective on KeyCorp from $23.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Royal Bank Of Canada lifted their target price on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Robert W. Baird upped their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Finally, Argus raised KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of KEY. Bank of Nova Scotia purchased a new position in shares of KeyCorp in the 2nd quarter valued at approximately $3,636,436,000. BlackRock Inc. purchased a new stake in KeyCorp in the second quarter worth $2,039,113,000. California State Teachers Retirement System raised its holdings in KeyCorp by 2,126.0% in the second quarter. California State Teachers Retirement System now owns 31,165,167 shares of the financial services provider’s stock worth $718,357,000 after purchasing an additional 29,765,093 shares in the last quarter. Deutsche Bank AG bought a new position in KeyCorp in the second quarter worth $380,244,000. Finally, Norges Bank purchased a new position in KeyCorp during the fourth quarter valued at $262,688,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $21.94 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a twelve month low of $16.47 and a twelve month high of $24.07. The firm’s 50 day moving average price is $22.56 and its two-hundred day moving average price is $21.76. The firm has a market cap of $23.41 billion, a P/E ratio of 12.75, a PEG ratio of 0.82 and a beta of 1.02.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio is 47.67%.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.