KEY - KeyCorp

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  1. T0rm3nted

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    KeyBank (NYSE: KEY) is an American regional bank headquartered in Cleveland, Ohio. As of 2013, it is the 22nd largest bank in the United States based on total deposits. It is the 29th largest bank in the United States by total assets. Since 2008, KeyBank has been the only major bank based in Cleveland.

    KeyCorp's primary regulator, under the Bank Holding Company Act, is the Federal Reserve, while KeyBank National Association is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation (FDIC). Other subsidiaries are subject to regulation from Consumer Financial Protection Bureau (CFPB), U.S. Securities and Exchange Commission, and other customary regulatory bodies.

    As of 2013, KeyBank had approximately 14,000 employees and a diverse client base. Key's customer base spans retail, small business, corporate, and investment clients. There are 1,000 KeyBank branches, located in Alaska, Colorado, Idaho, Indiana, Kentucky, Maine,Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington, and 1,300 ATMs. KeyCorp maintains business offices in 31 states. As of 2015, Key was ranked 592 on the Fortune 500 list.

    The company no longer owns the naming rights to KeyArena in Seattle, Washington, although the building continues to use the name. On April 11, 1995, the city of Seattle sold the naming rights to KeyCorp for $15.1 million, which renamed the Coliseum as KeyArena. In March 2009, the city and KeyCorp signed a new deal for a two-year term that ended December 31, 2010, at an annual fee of $300,000. The company did not renew the naming rights.
     
  2. T0rm3nted

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    Analyst Upgrade/Downgrade Update

    Brokerage firm:
    Rafferty
    Change: Upgrade
    Previous Rating: Hold
    Current Rating: Buy
    Previous Price Target: N/A
    Current Price Target: N/A
     
  3. T0rm3nted

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    Analyst Upgrade/Downgrade Update

    Brokerage firm:
    FBR & Co.
    Change: Coverage Reiterated/Price Target Changed
    Previous Rating: N/A
    Current Rating: Outperform
    Previous Price Target: $14
    Current Price Target: $16
     
  4. T0rm3nted

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    Analyst Upgrade/Downgrade Update

    Brokerage firm: Bernstein
    Change: Downgrade
    Previous Rating: Outperform
    Current Rating: Market perform
    Previous Price Target: N/A
    Current Price Target: N/A
     
  5. T0rm3nted

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    Analyst Upgrade/Downgrade Update

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    Standpoint Research
    Change: Downgrade
    Previous Rating: Buy
    Current Rating: Hold
    Previous Price Target: N/A
    Current Price Target: N/A
     
  6. Stockaholic

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    Dividend Stock Spotlight: KeyCorp (KEY)
    Tue, Sep 24, 2019

    Regional banks (KRE) never entirely recovered from last year's Q4 downturn and have underperformed both the broader market and the rest of the financial sector since. But one silver lining is that the group is attractive with regards to dividends. Of the regional bank stocks in the S&P 1500, 85% have a yield that outpaces the index and 63% have a higher yield than the financial sector. Currently, the average regional bank stock in the S&P 1500 yields 2.73%. One of the ones that yields even more at 4.2% is KeyCorp (KEY). Additionally, unlike some of the other regional bank stocks that have elevated yields due to downtrends over the past year, KEY has a more attractive chart and is actually sitting in a modest uptrend having made a series of higher highs and higher lows since the start of the year. Currently, the stock is experiencing mean reversion after reaching overbought levels.

    Given this uptrend, the desirable yield has more been a result of steady and more recently rapid growth in the dividend rather than declines in stock price as is the case with other regional banks. Today, that dividend is 30% larger than it was just five years ago. That is more than twice the average growth of all regional bank stocks over the same time frame and nearly triple that of all financial stocks in the S&P 1500. Most of that growth has occurred in the past couple of years alone. More specifically, last September KEY raised its quarterly dividend by 5 cents (from $0.12 to $0.17), rather than the one-cent increases observed in previous years. The most recently declared dividend was also raised another 2 cents to $0.19. With a payout ratio of 42%, KEY has some safety in its dividend; even with this recent growth.

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