KeyCorp (NYSE:KEY) PT Raised to $18.00

KeyCorp (NYSE:KEY) had its target price boosted by Wedbush from $17.00 to $18.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for KeyCorp’s Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.04 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.42 EPS and FY2026 earnings at $1.65 EPS.

Several other research firms have also issued reports on KEY. UBS Group lowered shares of KeyCorp from a buy rating to a neutral rating and lowered their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Citigroup increased their target price on KeyCorp from $18.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Morgan Stanley raised their price target on KeyCorp from $18.00 to $20.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on KeyCorp from $18.00 to $19.00 and gave the company a buy rating in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods restated an outperform rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $16.71.

KeyCorp Price Performance

KeyCorp stock opened at $16.61 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The business’s 50 day simple moving average is $16.11 and its 200 day simple moving average is $15.15. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of KeyCorp in the 2nd quarter worth approximately $3,923,000. Bluefin Capital Management LLC lifted its stake in KeyCorp by 201.2% in the second quarter. Bluefin Capital Management LLC now owns 78,300 shares of the financial services provider’s stock worth $1,113,000 after purchasing an additional 52,300 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in KeyCorp during the second quarter valued at about $845,000. Kimelman & Baird LLC bought a new position in shares of KeyCorp during the second quarter valued at about $114,000. Finally, NewEdge Advisors LLC lifted its stake in shares of KeyCorp by 58.3% in the 2nd quarter. NewEdge Advisors LLC now owns 71,388 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 26,285 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.