Vining Sparks restated their buy rating on shares of KeyCorp (NYSE:KEY) in a research note released on Thursday. The brokerage currently has a $25.00 price target on the financial services provider’s stock.
“We continue to expect KEY to grow its operating earnings per share by 32% in 2018E, which still remains approximately 8% above the market’s consensus expectations. Therefore, we have maintained our price target at $25 and reaffirmed our rating at “Strong Buy” with a potential 20% total return expected over the next 12 months.”,” the firm’s analyst commented.
A number of other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. CIBC reaffirmed a buy rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine raised shares of KeyCorp from a hold rating to a buy rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of KeyCorp from a hold rating to a buy rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Finally, Robert W. Baird reaffirmed a hold rating and set a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. KeyCorp has a consensus rating of Buy and an average target price of $21.98.
KeyCorp (NYSE:KEY) traded up $0.34 during mid-day trading on Thursday, reaching $21.16. 13,295,012 shares of the company were exchanged, compared to its average volume of 7,056,285. KeyCorp has a 12 month low of $16.28 and a 12 month high of $21.71. The company has a market capitalization of $22,755.46, a P/E ratio of 18.89, a P/E/G ratio of 1.62 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.02.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. equities research analysts anticipate that KeyCorp will post 1.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock valued at $1,060,508 in the last three months. 0.65% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after acquiring an additional 4,230,390 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of KeyCorp by 8.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after acquiring an additional 1,765,263 shares in the last quarter. Boston Partners bought a new stake in shares of KeyCorp during the third quarter valued at approximately $356,111,000. Northern Trust Corp increased its position in shares of KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after acquiring an additional 231,558 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in KeyCorp by 0.5% in the third quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock worth $227,079,000 after purchasing an additional 64,958 shares during the last quarter. 81.01% of the stock is owned by institutional investors.
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KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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