KeyCorp (NYSE:KEY) PT Raised to $18.00 at Morgan Stanley

KeyCorp (NYSE:KEY) had its price target raised by Morgan Stanley from $16.00 to $18.00 in a research note published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI cut their target price on shares of KeyCorp from $17.50 to $16.50 and set an outperform rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their price target on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating for the company in a research report on Thursday, June 27th. Jefferies Financial Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, DA Davidson raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a buy rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $16.25.

KeyCorp Stock Up 1.0 %

KEY stock traded up $0.14 during mid-day trading on Monday, reaching $14.26. The company had a trading volume of 13,158,137 shares, compared to its average volume of 14,929,153. KeyCorp has a 52 week low of $9.50 and a 52 week high of $16.50. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 0.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $14.53 and a two-hundred day simple moving average of $14.63.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts predict that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.75%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Institutional Trading of KeyCorp

Hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC bought a new position in KeyCorp in the 1st quarter valued at approximately $25,000. First United Bank & Trust bought a new position in shares of KeyCorp during the fourth quarter valued at $29,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp during the first quarter worth $32,000. Quarry LP acquired a new position in shares of KeyCorp during the fourth quarter worth $38,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of KeyCorp in the fourth quarter worth $39,000. 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.