KeyCorp (NYSE:KEY) Receives Outperform Rating from Royal Bank of Canada

KeyCorp (NYSE:KEY)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 target price on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 3.48% from the stock’s current price.

A number of other equities analysts have also recently issued reports on KEY. Piper Sandler increased their target price on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. UBS Group lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. DA Davidson lowered their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Stock Down 1.4 %

KEY stock traded down $0.25 during trading on Wednesday, reaching $17.40. 7,294,165 shares of the stock were exchanged, compared to its average volume of 13,454,664. The firm’s 50 day moving average is $18.13 and its 200 day moving average is $17.06. The firm has a market cap of $17.24 billion, a P/E ratio of 1,738.50, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its position in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC bought a new position in KeyCorp in the 3rd quarter worth about $28,000. Larson Financial Group LLC raised its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp during the 3rd quarter valued at about $35,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of KeyCorp during the third quarter worth about $38,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.