DA Davidson Raises KeyCorp (NYSE:KEY) Price Target to $18.00

KeyCorp (NYSE:KEY) had its price objective boosted by DA Davidson from $16.00 to $18.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for KeyCorp’s Q3 2024 earnings at $0.30 EPS.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research report on Thursday, June 27th. Evercore ISI decreased their target price on shares of KeyCorp from $17.50 to $16.50 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Wedbush raised their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Friday. UBS Group lowered shares of KeyCorp from a buy rating to a neutral rating and decreased their target price for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Finally, Jefferies Financial Group raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a buy rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $16.06.

KeyCorp Stock Up 0.2 %

KEY stock opened at $15.59 on Friday. The company’s 50 day simple moving average is $14.39 and its 200-day simple moving average is $14.52. The firm has a market capitalization of $14.70 billion, a PE ratio of 19.73, a P/E/G ratio of 0.81 and a beta of 1.26. KeyCorp has a 12 month low of $9.50 and a 12 month high of $16.47. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.87.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.27 earnings per share. KeyCorp’s revenue was down 4.3% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.26%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new position in KeyCorp in the 1st quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in KeyCorp in the 4th quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in KeyCorp in the 1st quarter worth approximately $32,000. First United Bank & Trust purchased a new position in KeyCorp in the 4th quarter worth approximately $29,000. Finally, Fidelis Capital Partners LLC purchased a new position in KeyCorp in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.