KeyCorp (NYSE:KEY) Receives Average Rating of "Hold" from Analysts

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 received an average rating of "Hold" from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.3947.

KEY has been the subject of several analyst reports. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Cowen began coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Citigroup reaffirmed a "neutral" rating and set a $20.00 price target (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Truist Financial lifted their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a report on Monday, July 28th.

Insider Activity at KeyCorp

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,149 shares of company stock worth $2,821,230 over the last quarter. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its holdings in KeyCorp by 0.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 307,692 shares of the financial services provider's stock worth $5,360,000 after buying an additional 1,438 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in KeyCorp by 2.4% during the second quarter. Rockefeller Capital Management L.P. now owns 232,857 shares of the financial services provider's stock worth $4,056,000 after buying an additional 5,421 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in KeyCorp by 32.9% during the second quarter. Kingsview Wealth Management LLC now owns 20,687 shares of the financial services provider's stock worth $360,000 after buying an additional 5,119 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in KeyCorp during the second quarter worth $220,000. Finally, Creative Planning raised its holdings in KeyCorp by 10.5% during the second quarter. Creative Planning now owns 142,525 shares of the financial services provider's stock worth $2,483,000 after buying an additional 13,493 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.15 during midday trading on Friday, hitting $17.46. The stock had a trading volume of 2,409,499 shares, compared to its average volume of 16,806,881. The company's 50-day moving average price is $17.40 and its 200-day moving average price is $16.46. The company has a market capitalization of $19.14 billion, a P/E ratio of -249.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's payout ratio is presently -1,171.43%.

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.