Brokerages Set KeyCorp (NYSE:KEY) Price Target at $49.14

KeyCorp (NYSE:KEY) has earned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $49.1389.

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Royal Bank Of Canada increased their price target on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Robert W. Baird lifted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company upped their target price on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, July 6th.

KeyCorp Stock Up 0.2%

KEY stock opened at $21.89 on Tuesday. The company has a market cap of $23.36 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.72 and a beta of 1.03. KeyCorp has a twelve month low of $16.47 and a twelve month high of $24.07. The business has a 50 day moving average price of $22.91 and a two-hundred day moving average price of $21.79. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.96 billion for 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%.The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Analysts anticipate that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 13% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is presently 47.67%.

Institutional Investors Weigh In On KeyCorp

Large investors have recently modified their holdings of the business. DV Equities LLC bought a new position in KeyCorp in the fourth quarter valued at about $27,000. N.E.W. Advisory Services LLC bought a new position in shares of KeyCorp during the second quarter valued at $30,000. Silvant Capital Management LLC bought a new position in KeyCorp during the 2nd quarter worth $30,000. Smithfield Trust Co acquired a new position in shares of KeyCorp in the fourth quarter worth approximately $31,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.