KeyCorp (NYSE:KEY) Price Target Increased to $16.00 by Analysts at Royal Bank of Canada

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

Other analysts have also recently issued reports about the stock. Wedbush reduced their price objective on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating for the company in a research note on Friday, January 19th. 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. JPMorgan Chase & Co. raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, April 4th. Barclays cut their target price on shares of KeyCorp from $17.00 to $16.00 and set an equal weight rating for the company in a research note on Friday, January 19th. Finally, Morgan Stanley raised their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $15.71.

KeyCorp Stock Up 0.1 %

KEY opened at $14.64 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company has a market capitalization of $13.58 billion, a PE ratio of 18.53 and a beta of 1.29. The firm’s 50 day simple moving average is $14.70 and its two-hundred day simple moving average is $13.46.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.17 EPS for the current year.

Insider Transactions at KeyCorp

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Ontario Teachers Pension Plan Board bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $274,773,000. Norges Bank bought a new stake in shares of KeyCorp in the 4th quarter valued at about $128,203,000. Ceredex Value Advisors LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $64,421,000. FMR LLC raised its holdings in shares of KeyCorp by 14.4% in the 3rd quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after purchasing an additional 3,992,226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of KeyCorp by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after buying an additional 3,216,584 shares during the last quarter. 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.