KeyCorp (NYSE:KEY) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate KeyCorp a “Moderate Buy”: Of 20 brokerages, 12 recommend buying, seven rate it a hold, and one gives a strong-buy rating. The average 12-month price target is $49.14.
• Institutional ownership remains high: Hedge funds and other institutional investors own approximately 79.69% of KeyCorp’s outstanding shares, with several firms recently establishing new positions.
• KeyCorp reported solid quarterly results and maintains a dividend: Quarterly EPS was $0.44, exceeding estimates of $0.42, while revenue increased 6.7% year over year. The company declared a quarterly dividend of $0.205 per share, representing a 3.8% annualized yield.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $49.1389.

Several equities analysts recently commented on KEY shares. DA Davidson reiterated a "buy" rating and issued a $28.00 target price on shares of KeyCorp in a research note on Wednesday, July 22nd. Susquehanna lifted their price target on KeyCorp from $300.00 to $415.00 and gave the company a "positive" rating in a report on Monday, May 18th. Morgan Stanley upped their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Weiss Ratings reissued a "buy (b)" rating on shares of KeyCorp in a research report on Friday, August 7th. Finally, Stephens started coverage on shares of KeyCorp in a report on Monday, June 15th. They issued an "overweight" rating and a $26.00 target price for the company.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new position in KeyCorp in the second quarter valued at approximately $30,000. Silvant Capital Management LLC purchased a new position in KeyCorp in the second quarter valued at approximately $30,000. Smithfield Trust Co acquired a new position in KeyCorp during the fourth quarter valued at approximately $31,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in KeyCorp during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

NYSE:KEY opened at $21.84 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $23.30 billion, a PE ratio of 12.69, a P/E/G ratio of 0.82 and a beta of 1.02. The firm has a 50 day simple moving average of $22.59 and a 200-day simple moving average of $21.75. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. KeyCorp's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. On average, equities analysts expect that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp's dividend payout ratio (DPR) 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.

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