KeyCorp (NYSE:KEY) Upgraded to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of KeyCorp (NYSE:KEY – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently weighed in on KEY. Truist Financial lowered their price target on KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $24.50 to $23.00 and set a “neutral” rating on the stock in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. Finally, Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. 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 MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $48.94.

Get Our Latest Report on KeyCorp

KeyCorp Stock Up 0.2%

KEY opened at $20.09 on Friday. The firm has a market capitalization of $21.43 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The company has a fifty day moving average price of $21.81 and a 200-day moving average price of $21.77. 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 (NYSE:KEY – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. Equities research analysts expect that KeyCorp will post 1.83 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

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

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. bought a new position in shares of KeyCorp during the 2nd quarter valued at $5,781,000. Envestnet Portfolio Solutions Inc. bought a new stake in KeyCorp in the second quarter worth $11,996,000. Andra AP fonden boosted its position in KeyCorp by 86.0% during the second quarter. Andra AP fonden now owns 192,539 shares of the financial services provider’s stock valued at $4,438,000 after buying an additional 89,000 shares during the period. State Street Corp boosted its position in KeyCorp by 9.0% during the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock valued at $1,184,048,000 after buying an additional 4,238,225 shares during the period. Finally, Core Capital Management & Research inc. bought a new position in shares of KeyCorp during the second quarter valued at about $164,000. Hedge funds and other institutional investors 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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