KeyCorp (NYSE:KEY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of KeyCorp (NYSE:KEY - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty analysts that are currently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.86.

Several analysts have issued reports on KEY shares. Truist Financial dropped their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Evercore ISI set a $17.00 target price on KeyCorp in a report on Monday, April 28th. Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on KeyCorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price for the company.

KeyCorp Price Performance

KEY stock traded up $0.11 during trading on Friday, hitting $15.76. The stock had a trading volume of 12,084,085 shares, compared to its average volume of 12,983,073. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a market capitalization of $17.27 billion, a P/E ratio of -52.53, a PEG ratio of 0.65 and a beta of 1.08. The company's 50-day moving average price is $15.18 and its two-hundred day moving average price is $16.79.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the previous year, the firm posted $0.20 EPS. As a group, research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

KeyCorp announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the sale, the director now owns 37,177 shares of the company's stock, valued at approximately $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now directly owns 10,000 shares of the company's stock, valued at approximately $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

Large investors have recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after buying an additional 800 shares during the last quarter. Ethos Financial Group LLC purchased a new position in KeyCorp in the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new position in KeyCorp in the fourth quarter valued at $28,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp in the first quarter valued at $28,000. Finally, Allworth Financial LP increased its holdings in KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after buying an additional 1,543 shares during the last quarter. 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.