KeyCorp (KEY) Rating Reiterated by GMP Securities

GMP Securities reiterated their average rating on shares of KeyCorp (NYSE:KEY) in a research note published on Friday, AnalystRatings.com reports. The brokerage currently has a $34.50 price target on the financial services provider’s stock.

Several other analysts also recently commented on the stock. Wood & Company reissued an average rating and set a $38.00 price objective on shares of KeyCorp in a research report on Thursday. Jefferies Financial Group upped their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a buy rating in a research note on Monday, May 6th. ValuEngine upgraded shares of KeyCorp from a strong sell rating to a sell rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut shares of KeyCorp from an overweight rating to a neutral rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Thursday, April 4th. Finally, Nomura upgraded shares of KeyCorp from a reduce rating to a neutral rating and set a $16.00 target price on the stock in a research note on Friday, March 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. KeyCorp has a consensus rating of Hold and a consensus target price of $23.36.

Shares of KEY stock opened at $16.75 on Friday. KeyCorp has a one year low of $13.65 and a one year high of $21.91. The stock has a market cap of $16.89 billion, a P/E ratio of 9.68, a PEG ratio of 1.18 and a beta of 1.23. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts forecast that KeyCorp will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is currently 39.31%.

In other KeyCorp news, insider Angela G. Mago sold 4,162 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the sale, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.08% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Stanley Laman Group Ltd. lifted its position in KeyCorp by 0.7% in the first quarter. Stanley Laman Group Ltd. now owns 83,786 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 586 shares during the last quarter. Global Retirement Partners LLC lifted its position in KeyCorp by 50.7% in the first quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock worth $31,000 after buying an additional 669 shares during the last quarter. Brown Advisory Inc. lifted its position in KeyCorp by 2.9% in the fourth quarter. Brown Advisory Inc. now owns 23,848 shares of the financial services provider’s stock worth $353,000 after buying an additional 672 shares during the last quarter. Pinebridge Investments L.P. lifted its position in KeyCorp by 0.7% in the first quarter. Pinebridge Investments L.P. now owns 109,691 shares of the financial services provider’s stock worth $1,728,000 after buying an additional 722 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in KeyCorp by 1.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 46,204 shares of the financial services provider’s stock worth $683,000 after buying an additional 792 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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