Analysts Set KeyCorp (NYSE:KEY) Price Target at $16.13

Shares of KeyCorp (NYSE:KEY) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $16.13.

KEY has been the topic of several recent research reports. Wedbush increased their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Argus increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Finally, Jefferies Financial Group increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th.

KeyCorp Stock Down 5.1 %

KEY opened at $14.45 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 1-year low of $9.50 and a 1-year high of $16.50. The company has a market capitalization of $13.63 billion, a PE ratio of 18.29, a PEG ratio of 0.78 and a beta of 1.26. The firm’s 50 day simple moving average is $14.54 and its two-hundred day simple moving average is $14.63.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that KeyCorp will post 1.12 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.67%. KeyCorp’s payout ratio is currently 103.80%.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in shares of KeyCorp by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of KeyCorp by 35.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after acquiring an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of KeyCorp in the 4th quarter worth about $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of KeyCorp in the 4th quarter worth about $7,200,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.