KeyCorp (NYSE:KEY) Price Target Raised to $25.00 at Argus

by · The Markets Daily

KeyCorp (NYSE:KEY – Free Report) had its price target lifted by Argus from $21.00 to $25.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on KEY. JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $19.50 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Evercore ISI raised their target price on KeyCorp from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a report on Monday, December 29th. Finally, Barclays raised their price target on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.63.

Check Out Our Latest Stock Report on KeyCorp

KeyCorp Stock Down 1.4%

NYSE KEY traded down $0.29 during mid-day trading on Thursday, hitting $21.28. The company’s stock had a trading volume of 865,195 shares, compared to its average volume of 15,401,709. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.53 and a beta of 1.09. The company’s 50 day simple moving average is $20.04 and its 200 day simple moving average is $18.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a twelve month low of $12.73 and a twelve month high of $22.07.

KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. KeyCorp’s payout ratio is presently 53.95%.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Prime Capital Investment Advisors LLC boosted its holdings in KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock worth $588,000 after buying an additional 486 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in shares of KeyCorp by 1.2% in the fourth quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 524 shares during the period. CoreCap Advisors LLC grew its position in shares of KeyCorp by 4.6% in the fourth quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 539 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of KeyCorp by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 568 shares during the period. Finally, Dakota Wealth Management lifted its holdings in KeyCorp by 2.2% during the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(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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