KeyCorp (KEY) Receives $14.80 Consensus PT from Analysts
KeyCorp (NYSE:KEY) has received an average recommendation of “Buy” from the twenty-seven analysts that are presently covering the firm. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.80.
A number of equities analysts recently commented on KEY shares. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, October 28th. Jefferies Group restated a “buy” rating and issued a $16.00 target price on shares of KeyCorp in a research report on Wednesday, October 26th. Rafferty Capital Markets upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 25th. Vetr downgraded KeyCorp from a “strong-buy” rating to a “buy” rating and set a $14.14 target price on the stock. in a research report on Wednesday, October 19th. Finally, Citigroup Inc. lifted their target price on KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 22nd.
A number of hedge funds have recently bought and sold shares of KEY. Envestnet Asset Management Inc. increased its stake in KeyCorp by 31.1% in the first quarter. Envestnet Asset Management Inc. now owns 151,554 shares of the financial services provider’s stock valued at $1,673,000 after buying an additional 35,976 shares in the last quarter. LPL Financial LLC increased its stake in KeyCorp by 26.0% in the first quarter. LPL Financial LLC now owns 86,305 shares of the financial services provider’s stock valued at $932,000 after buying an additional 17,827 shares in the last quarter. Seven Eight Capital LLC bought a new stake in KeyCorp during the first quarter valued at approximately $1,808,000. Squarepoint Ops LLC bought a new stake in KeyCorp during the first quarter valued at approximately $2,031,000. Finally, Park National Corp OH increased its stake in KeyCorp by 16.3% in the second quarter. Park National Corp OH now owns 64,747 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,070 shares in the last quarter. 71.65% of the stock is owned by hedge funds and other institutional investors.
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Shares of KeyCorp (NYSE:KEY) opened at 17.33 on Tuesday. KeyCorp has a 52 week low of $9.88 and a 52 week high of $17.57. The company’s 50 day moving average price is $14.56 and its 200-day moving average price is $12.65. The stock has a market capitalization of $18.73 billion, a PE ratio of 19.97 and a beta of 1.00.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was up 25.2% compared to the same quarter last year. Equities research analysts predict that KeyCorp will post $1.10 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, November 25th. KeyCorp’s dividend payout ratio is presently 39.08%.
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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