Piper Sandler Reiterates $19.00 Price Target for KeyCorp (NYSE:KEY)

Piper Sandler set a $19.00 price objective on KeyCorp (NYSE:KEYGet Rating) in a research report released on Monday morning, Stock Target Advisor reports.

Several other equities research analysts have also recently weighed in on the company. StockNews.com began coverage on KeyCorp in a research note on Thursday, March 31st. They set a hold rating for the company. Wells Fargo & Company upgraded KeyCorp from an underweight rating to an overweight rating and boosted their target price for the stock from $23.00 to $27.00 in a research note on Monday, April 11th. Jefferies Financial Group cut KeyCorp from a buy rating to a hold rating in a research note on Monday, April 11th. Morgan Stanley decreased their target price on KeyCorp from $30.00 to $27.00 and set an equal weight rating for the company in a research note on Monday, March 28th. Finally, Odeon Capital Group cut KeyCorp from a buy rating to a hold rating in a research note on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has an average rating of Hold and a consensus target price of $25.14.

Shares of KeyCorp stock opened at $17.00 on Monday. KeyCorp has a one year low of $16.69 and a one year high of $27.17. The company has a market cap of $15.85 billion, a PE ratio of 6.88, a P/E/G ratio of 0.44 and a beta of 1.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.78. The business has a 50-day simple moving average of $19.18 and a 200-day simple moving average of $22.37.

KeyCorp (NYSE:KEYGet Rating) last posted its earnings results on Thursday, April 21st. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. KeyCorp had a return on equity of 15.42% and a net margin of 31.30%. KeyCorp’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, sell-side analysts predict that KeyCorp will post 2.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Friday, May 27th. KeyCorp’s payout ratio is currently 31.58%.

Several large investors have recently added to or reduced their stakes in KEY. First Trust Advisors LP increased its holdings in shares of KeyCorp by 280.7% in the first quarter. First Trust Advisors LP now owns 11,790,583 shares of the financial services provider’s stock valued at $263,873,000 after purchasing an additional 8,693,488 shares during the period. Norges Bank acquired a new position in shares of KeyCorp in the fourth quarter valued at approximately $181,634,000. Capital International Investors increased its holdings in shares of KeyCorp by 8.6% in the fourth quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after purchasing an additional 6,586,364 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of KeyCorp by 4,070.9% in the third quarter. Balyasny Asset Management LLC now owns 5,930,163 shares of the financial services provider’s stock valued at $128,210,000 after purchasing an additional 5,787,985 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in KeyCorp by 213.9% during the fourth quarter. JPMorgan Chase & Co. now owns 7,238,492 shares of the financial services provider’s stock worth $167,426,000 after acquiring an additional 4,932,777 shares during the period. 83.24% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company Profile (Get Rating)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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