Brokerages Set KeyCorp (NYSE:KEY) PT at $19.31

KeyCorp (NYSE:KEY - Get Free Report) has received an average recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.31.

A number of equities research analysts have issued reports on KEY shares. Wells Fargo & Company reduced their price objective on shares of KeyCorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup reduced their price target on shares of KeyCorp from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Morgan Stanley dropped their price objective on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada restated an "outperform" rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC boosted its stake in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 611 shares in the last quarter. Signaturefd LLC boosted its position in KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 614 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock valued at $283,000 after acquiring an additional 627 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after acquiring an additional 631 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after purchasing an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.67 during trading on Friday, hitting $13.45. 23,356,702 shares of the company's stock were exchanged, compared to its average volume of 12,715,053. The business's 50-day simple moving average is $16.67 and its 200 day simple moving average is $17.37. The company has a market cap of $14.74 billion, a price-to-earnings ratio of -44.83, a PEG ratio of 0.65 and a beta of 1.06. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 6.10%. KeyCorp's payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.