Brokerages Set KeyCorp (NYSE:KEY) Price Target at $19.69

KeyCorp (NYSE:KEY) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and ten 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 $19.69.

A number of brokerages recently weighed in on KEY. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial initiated coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd.

KeyCorp Stock Up 1.3 %

KeyCorp stock opened at $17.95 on Friday. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The business’s 50-day simple moving average is $17.57 and its two-hundred day simple moving average is $17.34. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $17.79 billion, a PE ratio of -59.81, a PEG ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.57%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.32%.

Insider Activity

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its holdings in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares in the last quarter. 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 in the last quarter. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter valued at about $27,000. American Capital Advisory LLC bought a new stake in KeyCorp in the third quarter valued at about $28,000. Finally, Fourth Dimension Wealth LLC bought a new position in KeyCorp during the 4th quarter worth approximately $28,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.