KeyCorp (NYSE:KEY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of KeyCorp (NYSE:KEY) have received an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.69.

Several research analysts have recently commented on KEY shares. Keefe, Bruyette & Woods cut their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens restated an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, DA Davidson dropped their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd.

KeyCorp Stock Down 2.5 %

Shares of NYSE KEY opened at $17.58 on Friday. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of -58.58, a PEG ratio of 0.66 and a beta of 1.26. The business has a 50-day moving average of $17.55 and a 200-day moving average of $17.37.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.67%. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Insider Activity

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in KeyCorp by 110.3% in the fourth 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. Wolff Wiese Magana LLC grew its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. Ethos Financial Group LLC purchased a new stake in KeyCorp in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new stake in KeyCorp in the fourth quarter worth $28,000. Finally, American Capital Advisory LLC purchased a new stake in KeyCorp in the third quarter worth $28,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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.