KeyCorp (NYSE:KEY) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of KeyCorp (NYSE:KEY) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $18.50 price objective on the financial services provider’s stock.

KEY has been the subject of several other research reports. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. UBS Group boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Stock Performance

KEY opened at $17.86 on Monday. The firm has a market capitalization of $17.70 billion, a PE ratio of -59.51, a PEG ratio of 0.66 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $17.24.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.59%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.32%.

Institutional Trading of KeyCorp

Several hedge funds have recently made changes to their positions in KEY. Asahi Life Asset Management CO. LTD. acquired a new position in shares of KeyCorp in the fourth quarter valued at approximately $308,000. Smartleaf Asset Management LLC boosted its position in KeyCorp by 4.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 22,937 shares of the financial services provider’s stock valued at $392,000 after buying an additional 999 shares during the period. Connable Office Inc. grew its stake in shares of KeyCorp by 3.4% in the fourth quarter. Connable Office Inc. now owns 36,712 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 1,209 shares in the last quarter. Metis Global Partners LLC increased its position in shares of KeyCorp by 8.2% during the fourth quarter. Metis Global Partners LLC now owns 32,447 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 2,463 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of KeyCorp by 0.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 159,496 shares of the financial services provider’s stock valued at $2,734,000 after acquiring an additional 1,448 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

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.