KeyCorp (NYSE:KEY) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• KeyCorp has received a consensus rating of "Moderate Buy" from 20 research firms, with an average price target of $19.58.
• The company reported earnings of $0.35 per share for the latest quarter, surpassing analysts' expectations, with revenue showing a 20.6% year-over-year increase.
• KeyCorp recently announced a quarterly dividend of $0.205 per share, yielding 4.3%, with the most recent payout made on September 15th.

KeyCorp (NYSE:KEY - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty research firms that are currently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.5833.

Several research firms recently commented on KEY. Truist Financial upped their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, July 28th. DA Davidson boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Baird R W lowered shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Bank of America lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company boosted their price target on KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th.

KeyCorp Price Performance

KeyCorp stock opened at $18.89 on Friday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of -269.79, a PEG ratio of 0.66 and a beta of 1.15. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The stock's 50 day moving average is $18.58 and its 200-day moving average is $16.85.

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

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, September 2nd. KeyCorp's dividend payout ratio is presently -1,171.43%.

Insider Transactions at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trina M. Evans sold 17,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares of the company's stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KEY. Activest Wealth Management increased its stake in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,404 shares during the last quarter. Tompkins Financial Corp bought a new position in KeyCorp in the second quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new position in KeyCorp in the first quarter valued at about $28,000. Elevation Point Wealth Partners LLC acquired a new position in KeyCorp during the second quarter worth about $36,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of KeyCorp in the first quarter worth about $34,000. 79.69% of the stock is owned by 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.

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