KeyCorp (NYSE:KEY) Given Average Rating of "Hold" by Brokerages

Key Points

• KeyCorp has been given a consensus rating of "Hold" by twenty-one research firms, with eleven analysts recommending holding the stock and ten recommending buying it.
• The company's quarterly earnings reported a 20.6% year-over-year revenue increase, reaching $1.84 billion, while earnings per share (EPS) exceeded estimates at $0.35.
• KeyCorp recently declared a quarterly dividend of $0.205 per share, marking a dividend yield of 4.7%, with a payout ratio currently at -1,171.43%.

KeyCorp (NYSE:KEY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-one research firms that are covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $19.3947.

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of KeyCorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price objective for the company. Baird R W lowered shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st.

KeyCorp Price Performance

NYSE:KEY opened at $17.39 on Friday. The stock has a 50 day moving average of $17.34 and a two-hundred day moving average of $16.48. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm has a market cap of $19.05 billion, a P/E ratio of -248.36, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The business's revenue was up 20.6% on a year-over-year basis. On average, analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

Insider Transactions at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director owned 37,177 shares of the company's stock, valued at $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,149 shares of company stock valued at $2,821,230. Corporate insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KEY. Activest Wealth Management raised its holdings in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new position in KeyCorp in the second quarter valued at approximately $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of KeyCorp during the 4th quarter worth approximately $28,000. Zions Bancorporation National Association UT acquired a new position in shares of KeyCorp in the 1st quarter valued at $28,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of KeyCorp in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Company Profile

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.

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