KeyCorp (NYSE:KEY) PT Lowered to $16.50

KeyCorp (NYSE:KEY) had its price target lowered by Evercore ISI from $17.50 to $16.50 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

KEY has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $41.00 target price on shares of KeyCorp in a research note on Tuesday. Wells Fargo & Company upped their target price on KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on KeyCorp from $18.00 to $17.50 and set a neutral rating for the company in a research note on Friday, June 14th. Jefferies Financial Group lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research report on Monday, April 8th. Finally, Argus raised their price objective on KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, KeyCorp presently has a consensus rating of Moderate Buy and a consensus target price of $17.38.

KeyCorp Trading Up 0.7 %

KEY opened at $13.62 on Tuesday. KeyCorp has a one year low of $9.10 and a one year high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $14.45. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.69 and a beta of 1.28.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. Analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s payout ratio is 103.80%.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently added to or reduced their stakes in KEY. Abich Financial Wealth Management LLC increased its holdings in shares of KeyCorp by 47.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 5,381 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 1,727 shares in the last quarter. Keynote Financial Services LLC bought a new stake in KeyCorp in the 1st quarter worth about $182,000. DekaBank Deutsche Girozentrale raised its position in KeyCorp by 8.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 236,774 shares of the financial services provider’s stock worth $3,683,000 after buying an additional 19,052 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in KeyCorp during the 1st quarter valued at about $25,000. Finally, Cetera Advisors LLC boosted its holdings in shares of KeyCorp by 116.4% during the 1st quarter. Cetera Advisors LLC now owns 155,448 shares of the financial services provider’s stock valued at $2,458,000 after acquiring an additional 83,601 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.