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

Key Points

• Analyst consensus: KeyCorp has a consensus rating of "Moderate Buy" from 20 analysts (12 buys, 7 holds, 1 sell) with an average 12‑month target price of $22.61.
• Recent results and valuation: KeyCorp beat quarterly EPS estimates ($0.41 vs. $0.39) with revenue up 131.8% year‑over‑year, and the stock trades around $21.65 with a P/E of 14.24 and PEG of 0.71.
• Dividends and insider activity: The company pays a $0.205 quarterly dividend (annualized $0.82, ~3.8% yield, ~54% payout ratio), while insiders sold ~161,506 shares (~$3.6M) last quarter and now own 0.56% of shares.

Shares of KeyCorp (NYSE:KEY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $22.6053.

A number of research analysts have weighed in on KEY shares. Citigroup reiterated a "neutral" rating on shares of KeyCorp in a research report on Wednesday, December 31st. Robert W. Baird set a $19.00 price objective on shares of KeyCorp and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Argus boosted their price objective on shares of KeyCorp from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. DA Davidson set a $25.00 price objective on shares of KeyCorp in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of KeyCorp from $24.50 to $22.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th.

KeyCorp Price Performance

KeyCorp stock opened at $21.65 on Wednesday. The company has a market cap of $23.22 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.71 and a beta of 1.07. The firm's fifty day moving average is $20.79 and its 200 day moving average is $19.86. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a 52-week low of $13.68 and a 52-week high of $23.34.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. KeyCorp's revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. KeyCorp's payout ratio is 53.95%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the business's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares in the company, valued at $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Paine III sold 65,961 shares of the business's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the transaction, the insider owned 166,583 shares in the company, valued at $3,869,723.09. This trade represents a 28.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,506 shares of company stock worth $3,597,481 over the last quarter. Insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KEY. Brighton Jones LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $476,000. Woodline Partners LP grew its holdings in shares of KeyCorp by 41.4% in the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider's stock worth $1,346,000 after purchasing an additional 24,627 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of KeyCorp by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider's stock worth $90,000 after purchasing an additional 1,890 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of KeyCorp by 6.5% in the second quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider's stock worth $263,000 after purchasing an additional 926 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of KeyCorp in the second quarter worth about $186,000. 79.69% of the stock is currently owned by institutional investors.

About KeyCorp

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.

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