Stephens upgraded shares of KeyCorp (NYSE:KEY) from an equal weight rating to an overweight rating in a report published on Thursday, MarketBeat Ratings reports. Stephens currently has $23.00 target price on the financial services provider’s stock.

KEY has been the topic of a number of other reports. Zacks Investment Research raised shares of KeyCorp from a sell rating to a hold rating in a research report on Monday, October 23rd. ValuEngine raised shares of KeyCorp from a hold rating to a buy rating in a research report on Friday, December 1st. Citigroup increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, October 9th. Robert W. Baird reissued a hold rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Friday, October 6th. Finally, Sanford C. Bernstein raised shares of KeyCorp from a market perform rating to an outperform rating and increased their price objective for the stock from $21.00 to $22.00 in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. KeyCorp presently has an average rating of Buy and an average target price of $21.28.

KeyCorp (KEY) opened at $19.76 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. KeyCorp has a 1-year low of $16.28 and a 1-year high of $20.15. The company has a market cap of $21,249.90, a PE ratio of 14.97, a P/E/G ratio of 1.80 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. research analysts expect that KeyCorp will post 1.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th were given a dividend of $0.105 per share. The ex-dividend date was Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.13%. KeyCorp’s dividend payout ratio (DPR) is 36.84%.

In related news, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,212 shares of company stock worth $1,060,508. Corporate insiders own 0.65% of the company’s stock.

Several large investors have recently modified their holdings of the company. Boston Partners purchased a new position in KeyCorp during the third quarter valued at approximately $356,111,000. Janus Henderson Group PLC increased its holdings in KeyCorp by 6,189.4% during the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after buying an additional 8,962,913 shares during the period. Vanguard Group Inc. increased its holdings in KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after buying an additional 4,230,390 shares during the period. Samlyn Capital LLC purchased a new position in KeyCorp during the second quarter valued at approximately $57,111,000. Finally, Victory Capital Management Inc. increased its holdings in KeyCorp by 561.7% during the second quarter. Victory Capital Management Inc. now owns 2,954,024 shares of the financial services provider’s stock valued at $55,358,000 after buying an additional 2,507,628 shares during the period. 81.20% of the stock is currently owned by institutional investors and hedge funds.

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KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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