Piper Sandler Reiterates $19.00 Price Target for KeyCorp (NYSE:KEY)

Piper Sandler set a $19.00 target price on KeyCorp (NYSE:KEY – Get Rating) in a research note published on Monday, Stock Target Advisor reports.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of KeyCorp from a buy rating to a hold rating in a report on Monday, April 11th. Morgan Stanley cut their price target on shares of KeyCorp from $30.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, March 28th. StockNews.com assumed coverage on shares of KeyCorp in a report on Thursday, March 31st. They issued a hold rating on the stock. Odeon Capital Group downgraded shares of KeyCorp from a buy rating to a hold rating in a report on Tuesday, April 26th. Finally, Citigroup reaffirmed a neutral rating on shares of KeyCorp in a research note on Thursday, March 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $25.14.

Shares of KeyCorp stock opened at $17.00 on Monday. The firm has a market capitalization of $15.85 billion, a P/E ratio of 6.88, a PEG ratio of 0.44 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $19.18 and a 200 day moving average price of $22.37. KeyCorp has a 52 week low of $16.69 and a 52 week high of $27.17.

KeyCorp (NYSE:KEY – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, research analysts anticipate that KeyCorp will post 2.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.59%. KeyCorp’s dividend payout ratio (DPR) is 31.58%.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of KeyCorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock valued at $2,488,691,000 after buying an additional 1,278,193 shares in the last quarter. BlackRock Inc. lifted its holdings in KeyCorp by 2.1% in the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock valued at $1,934,456,000 after purchasing an additional 1,682,794 shares in the last quarter. Capital International Investors lifted its holdings in KeyCorp by 8.6% in the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after purchasing an additional 6,586,364 shares in the last quarter. Royal Bank of Canada lifted its holdings in KeyCorp by 0.6% in the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock valued at $491,578,000 after purchasing an additional 136,741 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in KeyCorp by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 17,992,418 shares of the financial services provider’s stock valued at $415,188,000 after purchasing an additional 662,049 shares in the last quarter. Hedge funds and other institutional investors own 83.24% of the company’s stock.

KeyCorp Company Profile (Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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