Robert W. Baird upgraded shares of KeyCorp (NYSE:KEY) from a neutral rating to an outperform rating in a research report sent to investors on Friday morning, 24/7 WallStreet reports. Robert W. Baird currently has $19.00 target price on the financial services provider’s stock, up from their previous target price of $18.00.
Other research analysts also recently issued reports about the company. GMP Securities reissued an average rating and issued a $34.50 price objective on shares of KeyCorp in a research note on Friday, May 17th. Wood & Company reissued an average rating and issued a $38.00 price objective on shares of KeyCorp in a research note on Thursday, May 16th. Jefferies Financial Group increased their price objective on KeyCorp from $20.00 to $18.50 and gave the company a buy rating in a research note on Monday, May 6th. ValuEngine downgraded KeyCorp from a sell rating to a strong sell rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. downgraded KeyCorp from an overweight rating to a neutral rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. KeyCorp currently has a consensus rating of Hold and a consensus price target of $23.15.
NYSE KEY opened at $17.10 on Friday. The company has a fifty day moving average price of $16.85. KeyCorp has a one year low of $13.65 and a one year high of $21.91. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98. The firm has a market cap of $17.19 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.42 and a beta of 1.23.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts predict that KeyCorp will post 1.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
In other KeyCorp news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.00, for a total value of $225,046.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc increased its stake in shares of KeyCorp by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after acquiring an additional 1,604,187 shares during the last quarter. BlackRock Inc. increased its position in shares of KeyCorp by 15.6% during the 1st quarter. BlackRock Inc. now owns 80,357,523 shares of the financial services provider’s stock worth $1,265,630,000 after purchasing an additional 10,824,887 shares during the last quarter. FMR LLC increased its position in shares of KeyCorp by 21.1% during the 1st quarter. FMR LLC now owns 18,418,818 shares of the financial services provider’s stock worth $290,096,000 after purchasing an additional 3,204,467 shares during the last quarter. Geode Capital Management LLC increased its position in shares of KeyCorp by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 13,284,088 shares of the financial services provider’s stock worth $195,989,000 after purchasing an additional 767,195 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of KeyCorp by 1.0% during the 4th quarter. Northern Trust Corp now owns 11,741,641 shares of the financial services provider’s stock worth $173,540,000 after purchasing an additional 119,242 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
Further Reading: Cost of Debt
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