KeyCorp (NYSE:KEY) given analysts’ average “hold” recommendation

KeyCorp (NYSE:KEY – Get Rating) shares received a consensus rating of “Hold” from the sixteen research firms that cover the company, MarketBeat reports. Two investment analysts rated the stock with a sell recommendation, six gave the company a hold recommendation and seven gave the company a buy recommendation. The 12-month average target price among analysts who updated their coverage of the stock in the past year is $26.23.

KEY has been the subject of a number of recent research reports. Wells Fargo & Company downgraded KeyCorp from an “underweight” to an “overweight” rating and raised its target price for the company from $23.00 to $27.00 in a Monday, April 11, report. Odeon Capital Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a Tuesday, April 26 research note. Citigroup reiterated a “neutral” rating on KeyCorp shares in a Thursday, March 24 research note. Jefferies Financial Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a Monday, April 11 research rating. Finally, Wolfe Research cut its price target on KeyCorp shares from $23.00 to $17.00 and set an “underperform” rating for the company in a Thursday, May 26 research report.

NYSE KEY shares opened at $17.54 on Wednesday. The stock has a market capitalization of $16.36 billion, a PE ratio of 7.10, a P/E/G ratio of 0.44 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt ratio of 0.81. The company has a fifty-day moving average of $19.65 and a 200-day moving average of $22.63. KeyCorp has a 52-week low of $17.12 and a 52-week high of $27.17.

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KeyCorp (NYSE:KEY – Get Rating) last released quarterly earnings data on Thursday, April 21. The financial services provider reported earnings per share of $0.45 for the quarter, missing the consensus estimate of $0.48 per ($0.03). The company posted revenue of $1.70 billion in the quarter, compared to analysts’ estimates of $1.74 billion. KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The company’s revenue for the quarter was down 3.1% year over year. In the same period a year earlier, the company earned earnings per share of $0.61. Equity research analysts expect KeyCorp to post EPS of 2.24 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.195. This represents an annualized dividend of $0.78 and a yield of 4.45%. The ex-dividend date is Friday, May 27. KeyCorp’s dividend payout ratio is currently 31.58%.

A number of institutional investors have been buying and selling shares of KEY recently. JW Cole Advisors Inc. acquired a new stake in KeyCorp in Q1 worth approximately $54,000. Bank of America Corp DE increased its stake in shares of KeyCorp by 7.6% in the first quarter. Bank of America Corp DE now owns 9,281,063 shares of the financial services provider valued at $207,709,000 after buying an additional 653,971 shares last quarter. Verition Fund Management LLC bought a new position in shares of KeyCorp in the first quarter worth approximately $1,565,000. Mirae Asset Global Investments Co. Ltd. increased its stake in KeyCorp shares by 17.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 126,190 shares of the financial services provider valued at $2,825,000 after acquiring an additional 18,913 shares during the period. Finally, M Holdings Securities Inc. acquired a new stake in KeyCorp during the first quarter worth approximately $834,000. 83.24% of the shares are held by hedge funds and other institutional investors.

KeyCorp Company Profile (Get a rating)

KeyCorp operates as a holding company of the KeyBank National Association which 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 investment deposits, products and services; and personal finance and financial wellness, student loan refinance, mortgage and home equity, loans, credit cards, cash flow, business consulting, wealth management, asset management, investing, cash management, management portfolio, trust and related services to individuals and small and medium-sized businesses.

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Analyst Recommendations for KeyCorp (NYSE: KEY)

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