KeyCorp (NYSE:KEY) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of KeyCorp (NYSE:KEY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen ratings firms that are currently covering the stock, MarketBeat.com 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 ratings on the stock in the last year is $19.69.

Several equities research analysts have recently weighed in on KEY shares. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Barclays raised their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, UBS Group raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd.

KeyCorp Stock Performance

Shares of KEY traded up $0.25 during mid-day trading on Friday, hitting $17.73. 8,283,918 shares of the company's stock were exchanged, compared to its average volume of 13,900,512. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The firm has a market capitalization of $17.57 billion, a P/E ratio of -59.08, a P/E/G ratio of 0.66 and a beta of 1.26. The business's 50 day moving average is $17.59 and its two-hundred day moving average is $17.33. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.63%. KeyCorp's dividend payout ratio (DPR) is presently -273.32%.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KEY. Norges Bank purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $153,235,000. Vanguard Group Inc. grew its stake in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after acquiring an additional 7,754,576 shares during the period. Azora Capital LP purchased a new stake in KeyCorp in the 3rd quarter worth approximately $92,413,000. Freestone Grove Partners LP purchased a new stake in KeyCorp in the 4th quarter worth approximately $63,540,000. Finally, Assenagon Asset Management S.A. grew its stake in KeyCorp by 280.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider's stock worth $83,364,000 after acquiring an additional 3,668,168 shares during the period. 79.69% of the stock is 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.