KeyCorp (NYSE:KEY) PT Lowered to $17.50

KeyCorp (NYSE:KEY) had its price target trimmed by JPMorgan Chase & Co. from $18.00 to $17.50 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on KEY. Argus raised their target price on KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a report on Friday, April 19th. Royal Bank of Canada upped their price target on KeyCorp from $15.00 to $16.00 and gave the company an outperform rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock an outperform rating in a report on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a buy rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $15.97.

KeyCorp Trading Down 2.1 %

Shares of NYSE KEY opened at $13.36 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 12 month low of $9.10 and a 12 month high of $15.86. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.65 and a beta of 1.28. The business has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $14.43.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Sell-side analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC boosted its stake in shares of KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 704 shares during the period. Cornerstone Wealth Management LLC grew its position in KeyCorp by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 732 shares during the period. Caldwell Sutter Capital Inc. grew its holdings in KeyCorp by 3.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after buying an additional 742 shares in the last quarter. Czech National Bank grew its position in KeyCorp by 0.5% in the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after purchasing an additional 788 shares in the last quarter. Finally, CWM LLC boosted its position in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 837 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

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.