Analysts Set KeyCorp (NYSE:KEY) PT at $19.31

KeyCorp (NYSE:KEY) has received a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $19.31.

KEY has been the topic of several analyst reports. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Citigroup lowered their price target on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 24th. Morgan Stanley cut their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd.

KeyCorp Trading Up 0.1 %

Shares of KEY stock opened at $13.49 on Friday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of -44.95, a PEG ratio of 0.65 and a beta of 1.06. The firm has a 50-day moving average price of $16.59 and a 200 day moving average price of $17.35. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 6.08%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

KeyCorp declared that its board has approved a share repurchase program on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade 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 this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. acquired a new position in shares of KeyCorp during the third quarter valued at $406,000. Hilltop Holdings Inc. acquired a new position in KeyCorp during the 3rd quarter valued at about $393,000. HighTower Advisors LLC grew its position in KeyCorp by 9.2% in the 3rd quarter. HighTower Advisors LLC now owns 202,681 shares of the financial services provider’s stock worth $3,391,000 after purchasing an additional 17,140 shares during the last quarter. Janus Henderson Group PLC grew its position in KeyCorp by 22.3% in the 3rd quarter. Janus Henderson Group PLC now owns 106,013 shares of the financial services provider’s stock worth $1,776,000 after purchasing an additional 19,300 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its stake in shares of KeyCorp by 51.4% in the third quarter. Investment Management Corp of Ontario now owns 31,222 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 10,600 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.