KeyCorp (NYSE:KEY) Price Target Cut to $21.00 by Analysts at DA Davidson

KeyCorp (NYSE:KEY) had its price target reduced by DA Davidson from $22.00 to $21.00 in a report released on Wednesday,Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.58.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.32 on Wednesday. The firm’s 50 day simple moving average is $18.13 and its 200-day simple moving average is $17.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a one year low of $13.10 and a one year high of $20.04.

KeyCorp Dividend Announcement

The business also recently disclosed 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 4.74%. KeyCorp’s payout ratio is currently -273.32%.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Several large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its holdings in shares of KeyCorp by 285.5% during 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 last quarter. American Capital Advisory LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at about $28,000. Larson Financial Group LLC lifted its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp in the third quarter worth about $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.