KeyCorp (NYSE:KEY) Given New $16.00 Price Target at Royal Bank of Canada

KeyCorp (NYSE:KEY) had its price target lifted by Royal Bank of Canada from $15.00 to $16.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

KEY has been the topic of several other reports. Raymond James began coverage on shares of KeyCorp in a research note on Monday, January 8th. They issued a market perform rating on the stock. Evercore ISI upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an outperform rating in a research note on Thursday, March 28th. Wedbush decreased their price target on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Morgan Stanley upped their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a buy rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $15.71.

KeyCorp Price Performance

Shares of KEY opened at $14.63 on Friday. The firm has a market capitalization of $13.57 billion, a PE ratio of 18.52 and a beta of 1.29. The company’s 50-day moving average is $14.69 and its 200-day moving average is $13.38. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.86.

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 the consensus estimate of $0.23 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Equities analysts forecast that KeyCorp will post 1.17 EPS for the current year.

Insider Activity

In related news, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Trina M. Evans sold 12,335 shares of the firm’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 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. In the last three months, insiders have sold 21,442 shares of company stock worth $303,914. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC bought a new position in KeyCorp during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC raised its holdings in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in KeyCorp during the 3rd quarter worth approximately $28,000. First United Bank & Trust bought a new position in KeyCorp during the 4th quarter worth approximately $29,000. Finally, Point72 Hong Kong Ltd bought a new position in KeyCorp during the 4th quarter worth approximately $31,000. 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.