Brokerages Set KeyCorp (NYSE:KEY) PT at $20.10

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.

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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.

About KeyCorp

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.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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