KeyCorp (NYSE:KEY) Receives Average Rating of "Moderate Buy" from Brokerages

KeyCorp (NYSE:KEY - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.92.

KEY has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Cowen began coverage on KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director now directly owns 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 82,523 shares of the company's stock, valued at $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

Large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its position in KeyCorp by 110.3% in the 4th 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 period. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $28,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the first quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $34,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Trading Up 1.7%

Shares of KEY stock opened at $15.99 on Thursday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $17.53 billion, a PE ratio of -94.08, a PEG ratio of 0.59 and a beta of 1.09. The stock has a fifty day simple moving average of $15.45 and a two-hundred day simple moving average of $16.43.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business posted $0.20 earnings per share. On average, analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has approved a share repurchase program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.13%. KeyCorp's dividend payout ratio is presently -482.35%.

About KeyCorp

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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