KeyCorp (NYSE:KEY) Price Target Raised to $24.50

KeyCorp (NYSE:KEY) had its price target lifted by JPMorgan Chase & Co. from $22.00 to $24.50 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Evercore boosted their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Piper Sandler increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. DA Davidson set a $25.00 price target on shares of KeyCorp in a report on Wednesday, January 21st. Finally, Evercore ISI upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.03.

KeyCorp Price Performance

KEY opened at $22.55 on Monday. The company has a fifty day moving average price of $21.21 and a two-hundred day moving average price of $19.25. The firm has a market capitalization of $24.64 billion, a PE ratio of 14.83, a P/E/G ratio of 0.56 and a beta of 1.10. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm’s quarterly revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. As a group, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.6%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

Insider Transactions at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares in the company, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the firm’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 completion of the transaction, the insider directly owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 161,506 shares of company stock valued at $3,597,481 over the last 90 days. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of KEY. Maseco LLP bought a new stake in shares of KeyCorp in the 4th quarter valued at about $27,000. Activest Wealth Management increased its position in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares during the last quarter. United Community Bank bought a new stake in KeyCorp in the third quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at approximately $30,000. Finally, Smithfield Trust Co bought a new position in shares of KeyCorp during the 4th quarter worth approximately $31,000. Institutional investors own 79.69% of the company’s stock.

Key Stories Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Activist HoldCo has pivoted and now backs KeyCorp’s leadership, signaling it will not pursue proxy fights after KeyCorp made agreed changes — this removes a key governance overhang and is a clear positive catalyst. Activist HoldCo Pivots on KeyCorp
• Positive Sentiment: Analyst coverage has improved and an upgrade/re?rating helped push KEY to a new one?year high recently — analyst target increases provide momentum and underpin near?term upside. KeyCorp Reaches New 1-Year High on Analyst Upgrade
• Positive Sentiment: KeyCorp declared a quarterly dividend of $0.205 (annualized ~$0.82, yield ~3.6%), supporting income investor interest and reducing downside for yield?sensitive holders. KeyCorp stock page (dividend details)
• Neutral Sentiment: Management presented at UBS and Bank of America conferences; transcripts are available and offer updated commentary on strategy, capital deployment and loan growth but contained no market?moving surprises. UBS presentation BofA transcript
• Negative Sentiment: Andrew J. Paine III, Head of Institutional Bank, sold 65,961 shares (~$1.53M) and reduced his stake by ~28% — large insider selling can prompt short?term investor caution and add to selling flows despite company fundamentals. Insider sale disclosure

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.