KeyCorp (KEY) PT Raised to $26.00
KeyCorp (NYSE:KEY) had its price target raised by DA Davidson to $26.00 in a research report report published on Friday, The Fly reports. The firm currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for KeyCorp’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.87 EPS.
A number of other analysts also recently issued reports on the stock. Sandler O’Neill restated a hold rating and set a $21.50 price objective on shares of KeyCorp in a report on Friday. Vining Sparks restated a buy rating and set a $25.00 price objective on shares of KeyCorp in a report on Thursday. Zacks Investment Research downgraded shares of KeyCorp from a buy rating to a hold rating and set a $23.00 price objective for the company. in a report on Wednesday, January 3rd. Barclays raised their price objective on shares of KeyCorp from $19.00 to $23.00 and gave the stock an underweight rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $21.50 price objective on shares of KeyCorp in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. KeyCorp currently has a consensus rating of Buy and a consensus target price of $21.98.
Shares of KeyCorp (NYSE KEY) traded up $0.34 during mid-day trading on Friday, hitting $21.16. 13,614,699 shares of the stock traded hands, compared to its average volume of 10,088,754. The stock has a market capitalization of $22,920.00, a P/E ratio of 18.89, a P/E/G ratio of 1.58 and a beta of 1.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a 52 week low of $16.28 and a 52 week high of $21.71.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.
In other news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the transaction, the insider now directly owns 110,052 shares in the company, valued at $2,042,565.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth R. Gile acquired 1,374 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold 57,212 shares of company stock valued at $1,060,508 over the last 90 days. 0.65% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of KeyCorp by 3.9% in 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 acquiring an additional 4,230,390 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in KeyCorp by 8.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after purchasing an additional 1,765,263 shares during the last quarter. Boston Partners bought a new stake in KeyCorp during the third quarter valued at approximately $356,111,000. Northern Trust Corp lifted its position in KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after purchasing an additional 231,558 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in KeyCorp by 0.5% during the third quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock valued at $227,079,000 after purchasing an additional 64,958 shares during the last quarter. Institutional investors own 81.00% of the company’s stock.
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.
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