KeyCorp (NYSE:KEY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate KeyCorp a “Moderate Buy” overall: Of 20 brokerages, 12 recommend buying, seven advise holding, and one gives a strong-buy rating.
• KeyCorp reported quarterly EPS of $0.44, beating estimates of $0.42, while revenue rose 6.7% year over year to $1.96 billion.
• The bank announced a quarterly dividend of $0.205 per share, yielding about 3.6% annually, and authorized a $3 billion share buyback covering up to 13% of outstanding shares.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty brokerages that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.1389.

A number of brokerages recently commented on KEY. JPMorgan Chase & Co. boosted their price objective on shares of KeyCorp from $22.50 to $24.50 and gave the stock a "neutral" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their target price on KeyCorp from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. Evercore reiterated an "outperform" rating on shares of KeyCorp in a report on Tuesday, April 21st. Truist Financial boosted their price objective on shares of KeyCorp from $23.00 to $24.00 and gave the stock a "hold" rating in a research note on Wednesday, June 24th. Finally, Susquehanna raised their price objective on KeyCorp from $300.00 to $415.00 and gave the stock a "positive" rating in a research report on Monday, May 18th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KEY. N.E.W. Advisory Services LLC purchased a new stake in KeyCorp in the second quarter valued at $30,000. Silvant Capital Management LLC purchased a new position in shares of KeyCorp during the 2nd quarter valued at about $30,000. DV Equities LLC purchased a new stake in shares of KeyCorp in the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. acquired a new stake in KeyCorp during the second quarter worth about $31,000. Finally, Smithfield Trust Co acquired a new stake in KeyCorp during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Trading Down 1.1%

KEY opened at $23.06 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average is $22.92 and its two-hundred day moving average is $21.77. The company has a market capitalization of $24.61 billion, a P/E ratio of 13.41, a PEG ratio of 0.76 and a beta of 1.03. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $0.35 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.6%. KeyCorp's payout ratio is 47.67%.

KeyCorp announced that its board has approved a share buyback program on Wednesday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 13% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source