KeyCorp (NYSE:KEY) PT Set at $19.00 by Piper Sandler

Piper Sandler set a $19.00 price target on KeyCorp (NYSE:KEYGet Rating) in a report released on Monday, Stock Target Advisor reports.

Other analysts have also issued reports about the stock. Wolfe Research decreased their price target on shares of KeyCorp from $23.00 to $17.00 and set an underperform rating for the company in a research report on Thursday, May 26th. The Goldman Sachs Group decreased their price objective on shares of KeyCorp from $27.00 to $23.00 and set a buy rating for the company in a research report on Tuesday, May 31st. Odeon Capital Group lowered shares of KeyCorp from a buy rating to a hold rating in a research report on Tuesday, April 26th. StockNews.com began coverage on shares of KeyCorp in a research report on Thursday, March 31st. They issued a hold rating for the company. Finally, Morgan Stanley decreased their price objective on shares of KeyCorp from $30.00 to $27.00 and set an equal weight rating for the company in a research report on Monday, March 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $25.14.

NYSE:KEY opened at $17.00 on Monday. The firm has a market cap of $15.85 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.33. The company has a 50-day moving average of $19.18 and a 200 day moving average of $22.37. KeyCorp has a 1-year low of $16.69 and a 1-year high of $27.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.78 and a quick ratio of 0.78.

KeyCorp (NYSE:KEYGet Rating) last released its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. Sell-side analysts anticipate that KeyCorp will post 2.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.78 annualized dividend and a yield of 4.59%. KeyCorp’s dividend payout ratio (DPR) is presently 31.58%.

A number of large investors have recently modified their holdings of KEY. First Trust Advisors LP grew its stake in shares of KeyCorp by 280.7% during the 1st quarter. First Trust Advisors LP now owns 11,790,583 shares of the financial services provider’s stock worth $263,873,000 after purchasing an additional 8,693,488 shares during the period. Norges Bank acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $181,634,000. Capital International Investors grew its stake in shares of KeyCorp by 8.6% during the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock worth $1,924,458,000 after purchasing an additional 6,586,364 shares during the period. Balyasny Asset Management LLC grew its stake in shares of KeyCorp by 4,070.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 5,930,163 shares of the financial services provider’s stock worth $128,210,000 after purchasing an additional 5,787,985 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of KeyCorp by 213.9% during the 4th quarter. JPMorgan Chase & Co. now owns 7,238,492 shares of the financial services provider’s stock worth $167,426,000 after purchasing an additional 4,932,777 shares during the period. Institutional investors own 83.24% of the company’s stock.

KeyCorp Company Profile (Get Rating)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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