Analysts Set KeyCorp (NYSE:KEY) PT at $19.44

KeyCorp (NYSE:KEY) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $19.58.

A number of research analysts have issued reports on the stock. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research report on Wednesday. Finally, Evercore ISI raised their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd.

KeyCorp Stock Up 1.2 %

Shares of NYSE:KEY opened at $17.69 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.53 billion, a P/E ratio of -58.96, a P/E/G ratio of 0.65 and a beta of 1.27. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The stock’s fifty day simple moving average is $18.06 and its 200-day simple moving average is $17.07.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued 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 4.64%. KeyCorp’s payout ratio is -273.32%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % 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 Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Advocates Investment Management boosted its holdings in shares of KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 602 shares in the last quarter. HM Payson & Co. lifted its position in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC boosted its stake in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 675 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 679 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after buying an additional 692 shares in the last quarter. Hedge funds and other 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.