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

Shares of KeyCorp (NYSE:KEY) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.13.

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Royal Bank of Canada lifted their price target on KeyCorp from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research note on Monday, July 8th.

KeyCorp Price Performance

Shares of NYSE KEY opened at $14.45 on Monday. The stock has a market capitalization of $13.63 billion, a PE ratio of 18.29, a P/E/G ratio of 0.87 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $14.54 and a two-hundred day moving average price of $14.62. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $16.50.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. As a group, equities analysts predict that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.67%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of KeyCorp by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KeyCorp by 35.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after purchasing an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after purchasing an additional 289,258 shares during the period. Aigen Investment Management LP acquired a new position in shares of KeyCorp in the 4th quarter valued at about $1,556,000. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of KeyCorp in the 4th quarter valued at about $7,200,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.