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

KeyCorp (NYSE:KEY - Get Free Report) had its target price raised by equities researchers at Royal Bank of Canada from $15.00 to $16.00 in a research note 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 objective would indicate a potential upside of 9.36% from the company's previous close.

A number of other research analysts have also recently issued reports on KEY. Raymond James initiated coverage on shares of KeyCorp in a report on Monday, January 8th. They set a "market perform" rating for the company. Wedbush lowered their price target on KeyCorp from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, January 19th. Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, April 5th. Morgan Stanley increased their target price on KeyCorp from $12.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of "Moderate Buy" and an average target price of $15.71.

KeyCorp Trading Up 1.7 %

KEY stock traded up $0.25 during trading on Friday, hitting $14.63. The company had a trading volume of 16,937,609 shares, compared to its average volume of 16,274,800. The firm has a 50-day moving average price of $14.67 and a 200-day moving average price of $13.35. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 16.54 and a beta of 1.29. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. KeyCorp's revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, analysts predict that KeyCorp will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction dated 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 of the company's stock, valued at $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Angela G. Mago sold 3,405 shares of the firm's stock in a transaction on 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 transaction, the insider now owns 214,630 shares of the company's stock, valued at $3,056,331.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company's stock, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in KeyCorp in the first quarter worth approximately $38,000. Point72 Hong Kong Ltd bought a new position in shares of KeyCorp in the 1st quarter worth $40,000. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp in the 4th quarter valued at $26,000. Sound Income Strategies LLC raised its holdings in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider's stock worth $27,000 after buying an additional 1,836 shares during the last quarter. Finally, First United Bank & Trust bought a new position in shares of KeyCorp in the fourth quarter valued at $29,000. 79.69% of the stock is currently owned by 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.