KeyCorp (KEY) Rating Reiterated by Wood & Company

Wood & Company reiterated their average rating on shares of KeyCorp (NYSE:KEY) in a report released on Thursday, reports. The brokerage currently has a $38.00 price target on the financial services provider’s stock.

Several other research firms have also recently weighed in on KEY. BMO Capital Markets cut KeyCorp from an outperform rating to a market perform rating and set a $17.00 price objective for the company. in a research report on Friday, January 18th. Jefferies Financial Group increased their price objective on KeyCorp from $20.00 to $18.50 and gave the company a buy rating in a research report on Monday, May 6th. Zacks Investment Research raised KeyCorp from a sell rating to a hold rating in a research report on Monday, March 4th. Wedbush cut KeyCorp from an outperform rating to a neutral rating and set a $16.63 price objective for the company. in a research report on Monday, February 4th. They noted that the move was a valuation call. Finally, Argus reduced their target price on KeyCorp from $23.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. KeyCorp currently has an average rating of Hold and an average target price of $23.36.

KEY opened at $16.75 on Thursday. KeyCorp has a 1-year low of $13.65 and a 1-year high of $21.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $16.89 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.18 and a beta of 1.23.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 earnings per share for the quarter, missing the 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 business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts predict 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. The ex-dividend date is Friday, May 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.06%. KeyCorp’s payout ratio is presently 39.31%.

In other KeyCorp news, insider Angela G. Mago sold 4,162 shares of KeyCorp stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the transaction, the insider now directly owns 128,464 shares of the company’s stock, valued at $2,226,281.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpha Omega Wealth Management LLC bought a new position in shares of KeyCorp during the first quarter valued at $25,000. Bremer Bank National Association acquired a new stake in shares of KeyCorp in the first quarter valued at $29,000. Golden State Wealth Management LLC acquired a new stake in shares of KeyCorp in the first quarter valued at $27,000. Bruderman Asset Management LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at $26,000. Finally, Global Retirement Partners LLC increased its stake in shares of KeyCorp by 50.7% in the first quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock valued at $31,000 after buying an additional 669 shares in the last quarter. 80.92% of the stock is owned by institutional investors.

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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