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

KeyCorp (NYSE:KEY) has been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are presently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.92.

Several analysts have weighed in on KEY shares. Truist Financial lowered their price target on KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Citigroup restated a “buy” rating on shares of KeyCorp in a research report on Thursday, April 17th. Royal Bank Of Canada reiterated an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. TD Cowen started coverage on shares of KeyCorp in a research note on Thursday, May 15th. They issued a “hold” rating and a $18.00 price target for the company. Finally, Evercore ISI set a $17.00 price objective on shares of KeyCorp in a research report on Monday, April 28th.

KeyCorp Stock Performance

NYSE KEY opened at $16.81 on Thursday. The company’s 50 day simple moving average is $15.69 and its two-hundred day simple moving average is $16.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The stock has a market capitalization of $18.42 billion, a PE ratio of -98.88, a P/E/G ratio of 0.63 and a beta of 1.09.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp’s dividend payout ratio (DPR) is presently -482.35%.

KeyCorp declared that its board has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director now directly owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mohit Ramani bought 10,000 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at $137,500. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. TCTC Holdings LLC grew its position in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after buying an additional 611 shares during the last quarter. Signaturefd LLC boosted its holdings in KeyCorp by 16.0% in the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 614 shares in the last quarter. Modera Wealth Management LLC increased its position in KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares during the period. Integrated Wealth Concepts LLC raised its holdings in KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 631 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in shares of KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 651 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.