Wedbush assumed coverage on shares of KeyCorp (NYSE:KEY) in a research report sent to investors on Thursday morning. The brokerage issued an outperform rating and a $15.00 price objective on the financial services provider’s stock.
Other equities research analysts also recently issued research reports about the company. Credit Suisse Group AG reaffirmed a buy rating on shares of KeyCorp in a research report on Monday, July 11th. Nomura reissued a buy rating on shares of KeyCorp in a research report on Saturday, July 9th. Citigroup Inc. reissued a buy rating on shares of KeyCorp in a research report on Wednesday, June 29th. Jefferies Group reissued a buy rating on shares of KeyCorp in a research report on Wednesday, June 29th. Finally, BMO Capital Markets reissued a buy rating and set a $15.00 price target on shares of KeyCorp in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $14.39.
Shares of KeyCorp (NYSE:KEY) opened at 12.80 on Thursday. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 13.24 and a beta of 1.21. KeyCorp has a 12 month low of $9.88 and a 12 month high of $14.01. The stock’s 50 day moving average price is $12.34 and its 200 day moving average price is $11.95.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Equities research analysts predict that KeyCorp will post $1.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, July 29th were given a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, July 27th. KeyCorp’s dividend payout ratio is currently 35.42%.
Large investors have recently modified their holdings of the stock. Wealthfront Inc. acquired a new stake in shares of KeyCorp during the second quarter valued at about $123,000. Sigma Investment Management Co increased its stake in shares of KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,135 shares in the last quarter. Regentatlantic Capital LLC acquired a new stake in shares of KeyCorp during the second quarter valued at about $134,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock valued at $136,000 after buying an additional 5,639 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in shares of KeyCorp by 18.4% in the second quarter. Stephens Inc. AR now owns 13,266 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,064 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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