By otakuyassine3@gmail.com 
KeyCorp (NYSE:KEY – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.75.
Several analysts recently issued reports on KEY shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Morgan Stanley cut their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd.
Get Our Latest Report on KeyCorp
Insider Transactions at KeyCorp
In related news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. TCTC Holdings LLC raised its holdings in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 611 shares in the last quarter. Signaturefd LLC increased its position in shares of KeyCorp by 16.0% during the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC raised its stake in shares of KeyCorp by 3.9% in the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in KeyCorp by 2.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 631 shares during the period. Finally, Ballentine Partners LLC lifted its position in KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.
KeyCorp Stock Down 3.7 %
KEY stock opened at $15.15 on Tuesday. The company has a 50 day moving average of $17.33 and a two-hundred day moving average of $17.48. The company has a market cap of $16.74 billion, a price-to-earnings ratio of -50.48, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.
KeyCorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.
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.
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