Shares of KeyCorp (NYSE:KEY – Get Rating) received an average recommendation of “Hold” by the seventeen brokerages that cover the stock, reports Marketbeat Ratings. Three investment analysts rated the stock with a sell recommendation, five gave the company a hold recommendation and six gave the company a buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is $19.92.
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Several research analysts have commented on the company. Barclays upgraded KeyCorp from an “underweight” rating to an “equally weighted” rating and raised its target price for the stock from $21.00 to $24.00 in a Tuesday, Jan. 3 research note. JPMorgan Chase & Co. lowered its price target on KeyCorp from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday. Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating and set a target price of $20.36 for the company in a Tuesday, January 10 research note. DA Davidson assumed coverage for KeyCorp in a research note on Tuesday, December 20. They set a “buy” rating and a target price of $20.00 for the business. Finally, Piper Sandler lowered her target price on KeyCorp to $16.50 in a Thursday, September 29 research note.
KeyCorp stock up 2.2%
KEY stock opened at $18.33 on Thursday. The company has a market capitalization of $17.10 billion, a PE ratio of 9.55, a growth price-earnings ratio of 1.42 and a beta of 1.29. The company has a 50-day simple moving average of $17.80 and a 200-day simple moving average of $17.78. KeyCorp has a 52-week low of $15.26 and a 52-week high of $27.10. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt ratio of 1.76.
KeyCorp (NYSE:KEY – Get Rating) last released its quarterly results on Thursday, January 19. The financial services provider reported EPS of $0.38 for the quarter, missing analyst consensus estimates of $0.55 per ($0.17). KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. During the same period last year, the company posted earnings per share of $0.64. Sell-side analysts expect KeyCorp to post EPS of 2.12 for the current fiscal year.
KeyCorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15. Investors of record on Tuesday, February 28 will receive a dividend of $0.205. This represents an annualized dividend of $0.82 and a yield of 4.47%. The ex-dividend date is Monday, February 27. KeyCorp’s payout ratio is currently 42.71%.
KeyCorp Institutional Negotiation
Several institutional investors have recently increased or reduced their stake in the stock. Vanguard Group Inc. increased its stake in KeyCorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider valued at $2,488,691,000 after acquiring an additional 1,278,193 shares in the last quarter. BlackRock Inc. increased its holdings of KeyCorp shares by 1.7% during the third quarter. BlackRock Inc. now owns 84,008,314 shares of the financial services provider worth $1,345,815,000 after buying an additional 1,414,839 shares in the last quarter. State Street Corp increased its stake in KeyCorp shares by 4.9% during the third quarter. State Street Corp now owns 51,201,153 shares of the financial services provider worth $820,242,000 after buying an additional 2,399,018 shares last quarter. Boston Partners increased its stake in KeyCorp shares by 5.6% in the third quarter. Boston Partners now owns 32,450,273 shares of the financial services provider worth $520,135,000 after purchasing an additional 1,718,852 shares last quarter. Finally, the Royal Bank of Canada increased its holdings of KeyCorp shares by 0.6% during the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider worth $491,578,000 after buying an additional 136,741 shares last quarter. 82.11% of the shares are currently held by institutional investors.
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KeyCorp operates as a holding company of the KeyBank National Association which 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 investment deposits, products and services; and personal finance and financial wellness, student loan refinance, mortgage and home equity, loans, credit cards, cash flow, business consulting, wealth management, asset management, investing, cash management, management portfolio and fiduciary and related services to individuals and small and medium-sized businesses.
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