KeyCorp (NYSE:KEY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of KeyCorp (NYSE:KEY) have earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $19.31.

Several research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Truist Financial cut their price target on KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st.

KeyCorp Trading Up 9.7 %

NYSE:KEY opened at $14.51 on Friday. The stock’s 50-day moving average is $16.27 and its two-hundred day moving average is $17.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $15.90 billion, a PE ratio of -48.37, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

KeyCorp declared that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently bought and sold shares of KEY. Whittier Trust Co. increased its holdings in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new position in KeyCorp during the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in KeyCorp in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $34,000. Finally, TCTC Holdings LLC grew its holdings in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.