KeyCorp (NYSE:KEY) Research Coverage Started at TD Cowen

by · The Cerbat Gem

TD Cowen started coverage on shares of KeyCorp (NYSE:KEY – Free Report) in a research report report published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $23.00 price target on the financial services provider’s stock.

KEY has been the topic of a number of other research reports. Royal Bank Of Canada lifted their target price on KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Stephens reissued an “overweight” rating and set a $26.00 price objective on shares of KeyCorp in a research report on Tuesday, September 15th. Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and issued a $24.00 target price on shares of KeyCorp in a research report on Thursday, October 1st. Finally, UBS Group decreased their target price on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

Get Our Latest Analysis on KeyCorp

KeyCorp Stock Down 0.6%

Shares of NYSE KEY opened at $19.98 on Thursday. The company has a 50 day simple moving average of $21.56 and a 200-day simple moving average of $21.81. The company has a market capitalization of $21.32 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07.

KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.2050 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is currently 47.67%.

Hedge Funds Weigh In On KeyCorp

Several hedge funds have recently bought and sold shares of KEY. N.E.W. Advisory Services LLC acquired a new position in KeyCorp in the 2nd quarter valued at about $30,000. Silvant Capital Management LLC acquired a new stake in shares of KeyCorp during the second quarter worth about $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of KeyCorp during the second quarter worth about $31,000. GK Wealth Management LLC acquired a new stake in shares of KeyCorp during the third quarter worth about $30,000. Finally, Trust Co. of Vermont purchased a new position in shares of KeyCorp in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report)

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.

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