KeyCorp (NYSE:KEY) Receives $42.78 Consensus Target Price from Analysts

KeyCorp (NYSE:KEY) has been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.7750.

KEY has been the topic of several research reports. Jefferies Financial Group lifted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Susquehanna boosted their target price on shares of KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. Truist Financial reduced their target price on shares of KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, March 23rd. Evercore reissued an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada boosted their target price on shares of KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, April 17th.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the stock. United Community Bank bought a new stake in shares of KeyCorp in the 3rd quarter valued at $27,000. Maseco LLP bought a new stake in shares of KeyCorp in the 4th quarter valued at $27,000. DV Equities LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at $27,000. GoalVest Advisory LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at $30,000. Finally, Smithfield Trust Co bought a new stake in shares of KeyCorp in the 4th quarter valued at $31,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.2%

Shares of KeyCorp stock opened at $21.80 on Thursday. The firm has a market capitalization of $23.63 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.69 and a beta of 1.03. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $21.34 and its 200 day moving average is $20.84. KeyCorp has a 1 year low of $15.59 and a 1 year high of $23.34.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts forecast that KeyCorp will post 1.83 earnings per share for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 13% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, June 2nd. KeyCorp’s payout ratio is 50.31%.

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.