Brokerages Set KeyCorp (NYSE:KEY) PT at $22.87

Shares of KeyCorp (NYSE:KEY) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.9211.

KEY has been the topic of several recent analyst reports. Truist Financial lifted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Robert W. Baird set a $19.00 price target on shares of KeyCorp and gave the stock a “neutral” rating in a research report on Tuesday. TD Cowen reissued a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their target price on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 12th.

Insiders Place Their Bets

In related news, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the transaction, the insider directly owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 161,506 shares of company stock worth $3,597,481. Company insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

A number of institutional investors have recently modified their holdings of the company. MCF Advisors LLC raised its position in KeyCorp by 31.6% in the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after buying an additional 456 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 486 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of KeyCorp by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 508 shares during the last quarter. Centennial Wealth Advisory LLC lifted its position in shares of KeyCorp by 1.2% in the fourth quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 524 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in KeyCorp by 4.6% during the fourth quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 539 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 5.3%

NYSE KEY opened at $20.71 on Tuesday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34. The stock has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $19.57. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $22.56 billion, a PE ratio of 13.62, a P/E/G ratio of 0.62 and a beta of 1.10.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company’s revenue was up 131.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.0%. KeyCorp’s payout ratio is currently 53.95%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.