KeyCorp (NYSE:KEY) Receives $21.79 Average Price Target from Brokerages

by · The Markets Daily

KeyCorp (NYSE:KEY – Get Free Report) has been assigned a consensus rating of “Hold” from the twenty-one research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.3333.

Several research firms have weighed in on KEY. Robert W. Baird reissued an “underperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, January 6th. Morgan Stanley increased their price target on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. Barclays increased their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Finally, DA Davidson boosted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 10th.

Read Our Latest Stock Analysis on KeyCorp

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently modified their holdings of the business. Activest Wealth Management boosted its position in shares of KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares during the period. United Community Bank bought a new stake in KeyCorp during the 3rd quarter valued at $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp during the 4th quarter worth $30,000. Tompkins Financial Corp acquired a new position in KeyCorp during the 2nd quarter worth $26,000. Finally, True Wealth Design LLC grew its stake in shares of KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,592 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KEY stock opened at $21.22 on Monday. The firm’s 50 day moving average price is $19.42 and its two-hundred day moving average price is $18.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 52-week low of $12.73 and a 52-week high of $21.75. The stock has a market cap of $23.19 billion, a PE ratio of 26.19, a PEG ratio of 0.52 and a beta of 1.09.

KeyCorp (NYSE:KEY – Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. The business’s revenue for the quarter was up 172.7% compared to the same quarter last year. As a group, analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, December 2nd. KeyCorp’s payout ratio is presently 101.23%.

About KeyCorp

(Get Free Report)

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.

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