KeyCorp (NYSE:KEY) PT Raised to $16.00 at Royal Bank of Canada

KeyCorp (NYSE:KEY) had its price target upped by investment analysts at Royal Bank of Canada from $15.00 to $16.00 in a research report issued 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 8.70% from the stock’s current price.

KEY has been the subject of several other research reports. Raymond James started coverage on shares of KeyCorp in a research report on Monday, January 8th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Wedbush reduced their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Jefferies Financial Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Evercore ISI upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Price Performance

Shares of KeyCorp stock traded up $0.34 during trading hours on Friday, reaching $14.72. The stock had a trading volume of 9,004,496 shares, compared to its average volume of 16,162,798. The stock’s 50 day moving average is $14.67 and its 200 day moving average is $13.35. The firm has a market capitalization of $13.65 billion, a PE ratio of 16.54 and a beta of 1.29. KeyCorp has a twelve month low of $8.53 and a twelve month high of $15.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Equities analysts expect that KeyCorp will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the transaction, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of KEY. Bruce G. Allen Investments LLC acquired a new position in shares of KeyCorp during the fourth quarter worth $26,000. Sound Income Strategies LLC boosted its stake in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in KeyCorp in the third quarter valued at $28,000. First United Bank & Trust acquired a new position in KeyCorp in the fourth quarter valued at $29,000. Finally, Point72 Hong Kong Ltd acquired a new position in KeyCorp in the fourth quarter valued at $31,000. Institutional investors and hedge funds 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.