The price of KeyCorp (NYSE:KEY) shares last traded on Wall Street rose 8.64% to $10.18.
Based on available information, 23 analysts follow KeyCorp (NYSE:KEY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $11.00, we find $15.00. Given the previous closing price of $9.37, this indicates a potential upside of 60.09 percent. KEY stock price is now -13.05% away from the 50-day moving average and -38.03% away from the 200-day moving average. The market capitalization of the company currently stands at $9.63B.
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Among analysts, 9 rate the stock a hold while 10 rate it a buy. Brokers who have rated the stock have averaged $14.33 as their price target over the next twelve months.
With the price target maintained at $20, Citigroup recently Upgraded its rating from Neutral to Buy for KeyCorp (NYSE: KEY)., while ‘Robert W. Baird’ rates the stock as ‘Outperform’.
In other news, Paine Andrew J III, Head of Institutional Bank bought 75,000 shares of the company’s stock on May 03. The stock was bought for $733,500 at an average price of $9.78. Upon completion of the transaction, the Head of Institutional Bank now directly owns 335,414 shares in the company, valued at $3.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 26, Director Hipple Richard J bought 2,200 shares of the business’s stock. A total of $23,452 was incurred on buying the stock at an average price of $10.66. This leaves the insider owning 68,374 shares of the company worth $0.7 million. Insiders disposed of 252,289 shares of company stock worth roughly $2.57 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KEY stock. A new stake in KeyCorp shares was purchased by MOORE CAPITAL MANAGEMENT, LP during the first quarter worth $24,722,000. LMR PARTNERS LLP invested $24,500,000 in shares of KEY during the first quarter. In the first quarter, RHINO INVESTMENT PARTNERS, INC acquired a new stake in KeyCorp valued at approximately $16,589,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in KEY for approximately $14,784,000. WALLEYE CAPITAL LLC purchased a new stake in KEY valued at around $13,760,000 in the second quarter. In total, there are 1,136 active investors with 85.70% ownership of the company’s stock.
A candlestick chart of KeyCorp (NYSE: KEY) showed a price of $9.70 on Wednesday morning. During the past 12 months, KeyCorp has had a low of $8.53 and a high of $20.30. The fifty day moving average price for KEY is $11.56 and a two-hundred day moving average price translates $16.39 for the stock.
The latest earnings results from KeyCorp (NYSE: KEY) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.3, missing analysts’ expectations of $0.44 by -0.14. This compares to $0.45 EPS in the same period last year. The net profit margin was 26.90% and return on equity was 14.40% for KEY. The company reported revenue of $1.82 billion for the quarter, compared to $1.08 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 68.89 percent. For the current quarter, analysts expect KEY to generate $1.72B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 05/30/2023 were paid a $0.205 dividend. On an annualized basis, this represents a $0.82 dividend and a 8.06% percent yield. There was an ex-dividend date of 05/26/2023 for this dividend. In terms of dividend payout ratio, KEY is presently at 44.50%.
KeyCorp(KEY) 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; 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. It also provides a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans comprising consumer, energy, healthcare, industrial, public sector, real estate, and technology loans for middle market clients. In addition, the company offers community development financing, securities underwriting, brokerage, and investment banking services. The company was founded in 1849 and is headquartered in Cleveland, Ohio.
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