Brokerages Set KeyCorp (NYSE:KEY) Target Price at $19.69

Shares of KeyCorp (NYSE:KEY) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $19.69.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in KeyCorp by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock valued at $2,004,228,000 after buying an additional 7,754,576 shares in the last quarter. FMR LLC increased its position in KeyCorp by 7.1% in the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in KeyCorp by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider’s stock valued at $622,229,000 after purchasing an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in KeyCorp by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock valued at $566,626,000 after purchasing an additional 1,452,179 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of KeyCorp by 4.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider’s stock worth $465,929,000 after buying an additional 1,062,615 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.95 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $17.34. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The firm has a market capitalization of $17.79 billion, a PE ratio of -59.81, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.57%. KeyCorp’s payout ratio is -273.32%.

About KeyCorp

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.