Analysts Set KeyCorp (NYSE:KEY) Target Price at $22.87

Shares of KeyCorp (NYSE:KEY) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $23.0263.

KEY has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Barclays boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Evercore upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. DA Davidson set a $25.00 target price on KeyCorp in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group boosted their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th.

Insider Activity

In other news, Director Trina M. Evans sold 32,695 shares of the business’s 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 transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of the firm’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 sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. 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 90 days. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in KEY. Tempo Wealth LLC acquired a new stake in shares of KeyCorp during the fourth quarter worth approximately $470,000. Virtu Financial LLC acquired a new position in KeyCorp during the 4th quarter worth $789,000. MV Capital Management Inc. bought a new stake in shares of KeyCorp in the 4th quarter worth about $42,000. Waterford Advisors LLC acquired a new position in KeyCorp in the fourth quarter worth about $1,733,000. Finally, Compound Planning Inc. increased its holdings in KeyCorp by 10.0% in the fourth quarter. Compound Planning Inc. now owns 33,254 shares of the financial services provider’s stock valued at $686,000 after buying an additional 3,011 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KEY opened at $20.92 on Tuesday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The stock has a market cap of $22.79 billion, a P/E ratio of 13.76, a PEG ratio of 0.62 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $21.51 and a two-hundred day moving average of $19.60.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the company posted $0.30 EPS. The company’s revenue was up 131.8% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

KeyCorp Company Profile

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.