Shares of KeyCorp (NYSE:KEY) have earned a consensus recommendation of “Hold” from the twenty-eight research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.10.
A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods set a $20.00 price target on KeyCorp and gave the company a “hold” rating in a report on Saturday, June 24th. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BMO Capital Markets reissued a “buy” rating and issued a $22.00 price target on shares of KeyCorp in a report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a report on Friday, July 28th.
In related news, Director Bruce D. Broussard bought 2,500 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was bought at an average cost of $18.17 per share, for a total transaction of $45,425.00. Following the acquisition, the director now directly owns 12,500 shares in the company, valued at $227,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander M. Cutler bought 5,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was bought at an average price of $18.55 per share, with a total value of $92,750.00. Following the completion of the acquisition, the director now owns 55,000 shares in the company, valued at $1,020,250. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 14,000 shares of company stock valued at $254,720. 0.65% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of KEY. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of KeyCorp by 447.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,182,062 shares of the financial services provider’s stock valued at $21,040,000 after buying an additional 966,000 shares during the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of KeyCorp by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 42,951 shares of the financial services provider’s stock valued at $805,000 after buying an additional 178 shares during the last quarter. Bollard Group LLC boosted its stake in shares of KeyCorp by 5.8% in the first quarter. Bollard Group LLC now owns 121,204 shares of the financial services provider’s stock valued at $2,155,000 after buying an additional 6,610 shares during the last quarter. James Investment Research Inc. boosted its stake in shares of KeyCorp by 1.3% in the first quarter. James Investment Research Inc. now owns 1,077,660 shares of the financial services provider’s stock valued at $19,161,000 after buying an additional 14,300 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of KeyCorp by 257.3% in the first quarter. Meadow Creek Investment Management LLC now owns 77,748 shares of the financial services provider’s stock valued at $1,382,000 after buying an additional 55,990 shares during the last quarter. Institutional investors own 81.27% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/brokerages-set-keycorp-nysekey-pt-at-20-10-updated.html.
KeyCorp (NYSE KEY) traded up 0.16% during midday trading on Friday, reaching $18.35. 8,699,534 shares of the company traded hands. KeyCorp has a 1-year low of $11.89 and a 1-year high of $19.53. The stock has a market capitalization of $20.05 billion, a P/E ratio of 18.22 and a beta of 1.11. The firm has a 50-day moving average of $18.58 and a 200-day moving average of $18.26.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.27 earnings per share. KeyCorp’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, analysts predict that KeyCorp will post $1.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, August 25th. KeyCorp’s payout ratio is 38.78%.
KeyCorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.