KeyCorp (NYSE:KEY) Receives "Overweight" Rating from Stephens

Stephens restated their overweight rating on shares of KeyCorp (NYSE:KEY - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $20.00 price target on the financial services provider's stock.

Several other research firms also recently issued reports on KEY. Evercore ISI upped their target price on KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday. Truist Financial started coverage on KeyCorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $19.00 price target for the company. Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Finally, Wedbush upped their target price on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.58.

KeyCorp Stock Down 1.8 %

KEY traded down $0.33 on Wednesday, hitting $17.32. The company had a trading volume of 17,230,798 shares, compared to its average volume of 14,240,270. The stock has a fifty day moving average price of $18.13 and a 200-day moving average price of $17.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The stock has a market capitalization of $17.16 billion, a price-to-earnings ratio of 1,731.50, a P/E/G ratio of 0.69 and a beta of 1.27.

KeyCorp Dividend Announcement

The business 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 is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.74%. KeyCorp's dividend payout ratio is presently 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

Several institutional investors have recently modified their holdings of the business. Wolff Wiese Magana LLC increased its holdings in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock valued at $26,000 after buying an additional 1,142 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of KeyCorp in the 3rd quarter valued at about $28,000. Larson Financial Group LLC increased its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp during the third quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new position in KeyCorp in the third quarter valued at approximately $38,000. Institutional investors and hedge funds 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.