KeyCorp (KEY) Research Coverage Started at Wedbush
Stock analysts at Wedbush began coverage on shares of KeyCorp (NYSE:KEY) in a report issued on Thursday. The brokerage set an “outperform” rating on the financial services provider’s stock.
Other equities analysts have also issued reports about the company. Nomura reissued a “buy” rating on shares of KeyCorp in a research report on Saturday, July 9th. Wells Fargo & Co. reissued a “hold” rating on shares of KeyCorp in a research report on Saturday, July 9th. Barclays PLC reissued a “sell” rating on shares of KeyCorp in a research report on Saturday, July 9th. Vetr raised KeyCorp from a “buy” rating to a “strong-buy” rating and set a $13.77 price target on the stock in a research report on Monday, June 13th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $13.00 price target on shares of KeyCorp in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.37.
KeyCorp (NYSE:KEY) traded down 0.24% during midday trading on Thursday, hitting $12.73. The stock had a trading volume of 10,160,147 shares. The company has a 50-day moving average price of $12.30 and a 200-day moving average price of $11.91. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 13.16 and a beta of 1.21. KeyCorp has a 12-month low of $9.88 and a 12-month high of $14.01.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. Equities analysts anticipate that KeyCorp will post $1.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, July 29th were issued a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.34 annualized dividend and a dividend yield of 2.67%. KeyCorp’s dividend payout ratio (DPR) is 35.42%.
Hedge funds have recently made changes to their positions in the stock. ING Groep NV increased its stake in shares of KeyCorp by 13,348.9% in the first quarter. ING Groep NV now owns 1,386,174 shares of the financial services provider’s stock valued at $15,289,000 after buying an additional 1,375,867 shares in the last quarter. Menta Capital LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $609,000. Bessemer Group Inc. increased its stake in shares of KeyCorp by 0.7% in the first quarter. Bessemer Group Inc. now owns 9,842,885 shares of the financial services provider’s stock valued at $108,666,000 after buying an additional 68,820 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of KeyCorp during the first quarter valued at approximately $28,751,000. Finally, Acrospire Investment Management LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $263,000. Institutional investors and hedge funds own 66.25% of the company’s stock.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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