KeyCorp (NYSE:KEY) Price Target Cut to $18.00 by Analysts at Truist Financial

KeyCorp (NYSE:KEY - Free Report) had its price target trimmed by Truist Financial from $19.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a hold rating on the financial services provider's stock.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group lifted their price objective on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.53.

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KeyCorp Trading Up 2.2 %

NYSE:KEY traded up $0.35 during trading hours on Friday, hitting $16.50. The company had a trading volume of 3,723,886 shares, compared to its average volume of 13,766,603. 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 has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a market capitalization of $18.23 billion, a PE ratio of -55.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The stock has a 50-day moving average price of $17.08 and a 200 day moving average price of $17.41.

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

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.97%. KeyCorp's dividend payout ratio (DPR) is presently -273.33%.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction on 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 acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

Hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC raised its stake in KeyCorp by 15.5% during the third quarter. OneDigital Investment Advisors LLC now owns 16,772 shares of the financial services provider's stock valued at $281,000 after purchasing an additional 2,256 shares in the last quarter. Pathstone Holdings LLC increased its stake in KeyCorp by 1.2% in the third quarter. Pathstone Holdings LLC now owns 205,485 shares of the financial services provider's stock worth $3,442,000 after purchasing an additional 2,477 shares during the period. Caprock Group LLC bought a new stake in shares of KeyCorp during the third quarter worth $354,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of KeyCorp during the third quarter valued at $2,704,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of KeyCorp in the third quarter worth about $582,000. 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.