JPMorgan Chase & Co. Trims KeyCorp (NYSE:KEY) Target Price to $16.50

KeyCorp (NYSE:KEYFree Report) had its target price reduced by JPMorgan Chase & Co. from $17.50 to $16.50 in a report issued on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on KEY. Keefe, Bruyette & Woods lifted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Evercore ISI lowered their price target on shares of KeyCorp from $17.50 to $16.50 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada reiterated an outperform rating and issued a $41.00 price objective on shares of KeyCorp in a report on Tuesday, June 25th. Wells Fargo & Company boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $17.38.

View Our Latest Stock Report on KEY

KeyCorp Stock Performance

KEY opened at $14.21 on Thursday. The firm’s fifty day simple moving average is $14.37 and its two-hundred day simple moving average is $14.47. KeyCorp has a 52-week low of $9.10 and a 52-week high of $15.86. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.72 and a beta of 1.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Equities analysts anticipate that KeyCorp will post 1.13 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were given a dividend of $0.205 per share. The ex-dividend date was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.77%. KeyCorp’s payout ratio is currently 103.80%.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of KeyCorp in the first quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in KeyCorp in the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of KeyCorp during the third quarter worth about $28,000. Finally, First United Bank & Trust purchased a new position in shares of KeyCorp in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report)

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.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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