KeyCorp (NYSE:KEY) PT Raised to $18.00 at Wedbush

by · The Markets Daily

KeyCorp (NYSE:KEY – Free Report) had its price objective upped by Wedbush from $17.00 to $18.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for KeyCorp’s Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.04 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.42 EPS and FY2026 earnings at $1.65 EPS.

Other analysts also recently issued reports about the company. Evercore ISI lowered their price objective on KeyCorp from $17.50 to $16.50 and set an outperform rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada restated an outperform rating and set a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating for the company in a research note on Thursday, June 27th. Keefe, Bruyette & Woods restated an outperform rating and set a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Finally, UBS Group lowered shares of KeyCorp from a buy rating to a neutral rating and decreased their price objective for the company from $16.00 to $15.00 in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $16.71.

Get Our Latest Report on KeyCorp

KeyCorp Trading Up 1.1 %

NYSE KEY opened at $16.56 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The business has a 50 day moving average price of $16.09 and a 200-day moving average price of $15.14. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. As a group, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.95%. KeyCorp’s payout ratio is 103.80%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several hedge funds have recently bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of KeyCorp during the 4th quarter valued at $98,000. Cambridge Investment Research Advisors Inc. increased its stake in KeyCorp by 15.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 123,736 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 16,625 shares during the last quarter. US Bancorp DE increased its position in shares of KeyCorp by 4.2% in the fourth quarter. US Bancorp DE now owns 396,336 shares of the financial services provider’s stock worth $5,707,000 after purchasing an additional 16,147 shares during the last quarter. Commerce Bank raised its stake in KeyCorp by 2.1% in the fourth quarter. Commerce Bank now owns 91,286 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 1,890 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in KeyCorp by 7.8% during the fourth quarter. TD Asset Management Inc now owns 385,341 shares of the financial services provider’s stock valued at $5,549,000 after purchasing an additional 27,815 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report)

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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