KeyCorp’s (KEY) Overweight Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of KeyCorp (NYSE:KEY) in a report issued on Tuesday morning,Benzinga reports. Stephens currently has a $26.00 price objective on the financial services provider’s stock.

Several other analysts have also recently issued reports on the stock. TD Cowen reissued a “buy” rating and set a $68.00 price target on shares of KeyCorp in a research report on Tuesday, June 23rd. Argus upgraded shares of KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. DA Davidson reiterated a “buy” rating and set a $28.00 target price on shares of KeyCorp in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.14.

KeyCorp Price Performance

KEY stock opened at $20.96 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $22.37 billion, a PE ratio of 12.19, a P/E/G ratio of 0.78 and a beta of 1.02. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The business’s fifty day moving average price is $22.44 and its 200 day moving average price is $21.76.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.KeyCorp’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, sell-side analysts anticipate that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. KeyCorp’s dividend payout ratio (DPR) is currently 47.67%.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Core Capital Management & Research inc. purchased a new stake in shares of KeyCorp during the second quarter worth approximately $164,000. Sequoia Financial Advisors LLC grew its holdings in KeyCorp by 24.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 135,315 shares of the financial services provider’s stock worth $3,119,000 after acquiring an additional 26,514 shares in the last quarter. National Pension Service grew its holdings in KeyCorp by 2.2% during the 2nd quarter. National Pension Service now owns 627,750 shares of the financial services provider’s stock worth $14,470,000 after acquiring an additional 13,539 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of KeyCorp by 1,691.3% in the 2nd quarter. WINTON GROUP Ltd now owns 244,695 shares of the financial services provider’s stock valued at $5,640,000 after purchasing an additional 231,035 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of KeyCorp in the 2nd quarter valued at approximately $2,162,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.