KeyCorp (NYSE:KEY) Price Target Raised to $18.00 at Royal Bank of Canada

KeyCorp (NYSE:KEY) had its price target lifted by research analysts at Royal Bank of Canada from $17.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 3.81% from the stock’s current price.

A number of other analysts have also recently weighed in on KEY. Wedbush increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Evercore ISI increased their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Monday. Finally, Jefferies Financial Group lifted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eleven have given 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 price target of $17.26.

KeyCorp Stock Performance

KEY stock traded up $0.09 on Friday, hitting $17.34. The company’s stock had a trading volume of 1,982,439 shares, compared to its average volume of 14,323,892. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The firm has a 50 day moving average of $16.56 and a two-hundred day moving average of $15.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.94.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Freestone Capital Holdings LLC purchased a new stake in shares of KeyCorp in the first quarter valued at $561,000. Assenagon Asset Management S.A. lifted its holdings in KeyCorp by 87.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after purchasing an additional 610,688 shares in the last quarter. Commerce Bank boosted its stake in shares of KeyCorp by 399.7% during the 1st quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after purchasing an additional 364,850 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of KeyCorp during the second quarter worth about $981,000. Finally, Cetera Investment Advisers grew its holdings in shares of KeyCorp by 274.4% during the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after buying an additional 243,437 shares in the last quarter. Hedge funds and other institutional investors 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.