KeyCorp (NYSE:KEY) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of KeyCorp (NYSE:KEY - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty ratings firms that are presently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.86.

Several analysts recently issued reports on KEY shares. JPMorgan Chase & Co. decreased their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Baird R W raised KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. TD Cowen started coverage on KeyCorp in a research note on Thursday, May 15th. They set a "hold" rating and a $18.00 target price on the stock. Evercore ISI set a $17.00 target price on KeyCorp in a research note on Monday, April 28th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th.

KeyCorp Stock Performance

Shares of KEY stock traded up $0.18 during trading hours on Friday, reaching $15.94. 15,588,550 shares of the company traded hands, compared to its average volume of 13,038,981. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $17.47 billion, a P/E ratio of -53.14, a P/E/G ratio of 0.65 and a beta of 1.08. The firm has a 50-day moving average price of $15.15 and a 200 day moving average price of $16.75.

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

KeyCorp declared that its board has initiated a share buyback plan on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Tuesday, May 27th. KeyCorp's payout ratio is currently -482.35%.

Insider Activity at KeyCorp

In other KeyCorp news, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $83,000.00. Following the completion of the sale, the director now owns 37,177 shares of the company's stock, valued at $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. lifted its stake in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after purchasing an additional 800 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in KeyCorp during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp in the fourth quarter valued at approximately $28,000. Zions Bancorporation National Association UT acquired a new stake in KeyCorp in the first quarter valued at approximately $28,000. Finally, Allworth Financial LP lifted its position in shares of 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 acquiring an additional 1,543 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.