DA Davidson Cuts KeyCorp (NYSE:KEY) Price Target to $21.00

KeyCorp (NYSE:KEY) had its target price reduced by DA Davidson from $22.00 to $21.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for KeyCorp’s Q1 2025 earnings at $0.34 EPS and FY2025 earnings at $1.73 EPS.

Several other equities research analysts have also commented on KEY. Barclays boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Evercore ISI boosted their price target on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $19.58.

KeyCorp Price Performance

NYSE:KEY opened at $17.69 on Wednesday. The company has a 50 day moving average price of $18.06 and a 200-day moving average price of $17.07. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

KeyCorp Announces Dividend

The company 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 dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.64%. KeyCorp’s payout ratio is -273.32%.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KEY. Azora Capital LP acquired a new position in KeyCorp in the third quarter valued at about $92,413,000. Assenagon Asset Management S.A. increased its stake in KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares during the period. Thrivent Financial for Lutherans increased its stake in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares during the period. Finally, Victory Capital Management Inc. increased its stake in KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after purchasing an additional 2,790,192 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.