KeyCorp (NYSE:KEY) Given New $18.00 Price Target at Morgan Stanley

KeyCorp (NYSE:KEY) had its price target hoisted by Morgan Stanley from $16.00 to $18.00 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Wedbush boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Argus boosted their target price on KeyCorp from $15.00 to $16.00 and gave the stock a buy rating in a research note on Friday, April 19th. UBS Group downgraded shares of KeyCorp from a buy rating to a neutral rating and reduced their price objective for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Evercore ISI dropped 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. Finally, Jefferies Financial Group boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $16.25.

KeyCorp Price Performance

Shares of KEY stock traded up $0.14 during trading hours on Monday, reaching $14.26. The company had a trading volume of 13,158,137 shares, compared to its average volume of 14,929,153. The stock has a fifty day moving average of $14.53 and a 200-day moving average of $14.63. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 0.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a 12-month low of $9.50 and a 12-month high of $16.50.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in shares of KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after purchasing an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after purchasing an additional 289,258 shares during the period. Aigen Investment Management LP acquired a new stake in shares of KeyCorp in the fourth quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of KeyCorp during the 4th quarter worth $7,200,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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.