Fintel reports that on October 5, 2023, JP Morgan maintained coverage of Keycorp (NYSE:KEY) with a Neutral recommendation.
Analyst Price Forecast Suggests 28.84% Upside
As of October 5, 2023, the average one-year price target for Keycorp is 13.21. The forecasts range from a low of 10.10 to a high of $16.80. The average price target represents an increase of 28.84% from its latest reported closing price of 10.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Keycorp is 7,951MM, an increase of 24.55%. The projected annual non-GAAP EPS is 2.32.
Keycorp Declares $0.20 Dividend
On July 11, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.82 annualized). Shareholders of record as of August 29, 2023 received the payment on September 15, 2023. Previously, the company paid $0.20 per share.
At the current share price of $10.25 / share, the stock's dividend yield is 8.00%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.67%, the lowest has been 2.95%, and the highest has been 8.77%. The standard deviation of yields is 1.41 (n=236).
The current dividend yield is 2.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.50. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1383 funds or institutions reporting positions in Keycorp. This is a decrease of 59 owner(s) or 4.09% in the last quarter. Average portfolio weight of all funds dedicated to KEY is 0.12%, a decrease of 16.04%. Total shares owned by institutions decreased in the last three months by 2.26% to 810,151K shares. 
The put/call ratio of KEY is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
Fuller & Thaler Asset Management holds 31,349K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 16,954K shares, representing an increase of 45.92%. The firm increased its portfolio allocation in KEY by 34.45% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 29,035K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 28,809K shares, representing an increase of 0.78%. The firm decreased its portfolio allocation in KEY by 31.37% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 24,913K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 13,263K shares, representing an increase of 46.76%. The firm increased its portfolio allocation in KEY by 39.89% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 22,269K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 21,776K shares, representing an increase of 2.21%. The firm decreased its portfolio allocation in KEY by 31.64% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 21,678K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 21,764K shares, representing a decrease of 0.40%. The firm decreased its portfolio allocation in KEY by 29.43% over the last quarter.
Keycorp Background Information
(This description is provided by the company.)
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $170.3 billion at December 31, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and approximately 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.
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