KeyCorp (NYSE:KEY) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• KeyCorp has received a consensus recommendation of "Hold" from 21 research firms, with a price objective averaging $19.39 among analysts.
• The company's quarterly earnings report showed $0.35 EPS, exceeding estimates, and a revenue increase of 20.6% year-over-year.
• KeyCorp recently announced a quarterly dividend of $0.205 per share, with a yield of 4.2%, after insider sales reduced CEO ownership by 15.32%.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-one research firms that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.3947.

KEY has been the subject of a number of analyst reports. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective for the company. in a report on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on shares of KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective for the company. Truist Financial boosted their price objective on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a report on Monday, July 28th. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $16.00 to $22.00 in a report on Tuesday, July 8th. Finally, Bank of America boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th.

KeyCorp Stock Up 0.2%

Shares of NYSE:KEY opened at $19.38 on Tuesday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a 50 day moving average of $18.21 and a 200-day moving average of $16.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of -276.91, a P/E/G ratio of 0.68 and a beta of 1.15.

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

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.2%. KeyCorp's payout ratio is currently -1,171.43%.

Insider Activity

In other news, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 owned 619,895 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the transaction, the insider owned 82,523 shares of the company's stock, valued at $1,327,795.07. This trade represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock worth $2,738,230 over the last quarter. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock worth $814,756,000 after purchasing an additional 14,651,281 shares in the last quarter. Norges Bank bought a new stake in shares of KeyCorp in the second quarter worth $195,642,000. Vanguard Group Inc. lifted its position in shares of KeyCorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock worth $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. HoldCo Asset Management LP bought a new stake in shares of KeyCorp in the second quarter worth $86,995,000. Finally, Wellington Management Group LLP lifted its position in shares of KeyCorp by 1,142.4% in the first quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock worth $79,978,000 after purchasing an additional 4,599,197 shares in the last quarter. Institutional investors and hedge funds 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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