KeyCorp (NYSE:KEY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of KeyCorp (NYSE:KEY) have earned an average rating of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.9737.

KEY has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on KeyCorp from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a research report on Wednesday, December 31st. Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Stephens boosted their target price on KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Piper Sandler upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the transaction, the insider directly owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This represents a 28.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value 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 trade represents a 35.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 161,506 shares of company stock worth $3,597,481 over the last quarter. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP increased its holdings in KeyCorp by 2,258.4% during the second quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock valued at $44,821,000 after buying an additional 2,463,880 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in KeyCorp by 2.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock worth $37,641,000 after acquiring an additional 53,682 shares during the period. Synovus Financial Corp purchased a new position in shares of KeyCorp during the 3rd quarter worth $2,253,000. Prudential Financial Inc. grew its position in shares of KeyCorp by 9.9% during the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock valued at $10,018,000 after acquiring an additional 51,705 shares during the period. Finally, HoldCo Asset Management LP bought a new stake in shares of KeyCorp during the 2nd quarter valued at $86,995,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.8%

Shares of NYSE KEY opened at $19.99 on Friday. The firm’s 50 day moving average price is $21.02 and its 200-day moving average price is $19.68. 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. The company has a market cap of $21.78 billion, a PE ratio of 13.15, a P/E/G ratio of 0.59 and a beta of 1.08.

KeyCorp (NYSE:KEY) last announced 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. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 131.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. On average, equities research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, March 3rd. KeyCorp’s payout ratio is presently 53.95%.

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.