KeyCorp (NYSE:KEY) Price Target Raised to $16.00

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

A number of other equities research analysts also recently issued reports on KEY. Wedbush cut their price target on KeyCorp from $16.00 to $14.00 and set a neutral rating for the company in a research note on Friday, January 19th. Wells Fargo & Company boosted their price target on KeyCorp from $16.00 to $18.00 and gave the company an overweight rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $16.00 to $18.00 and gave the company an outperform rating in a research note on Friday, April 5th. Piper Sandler boosted their price target on KeyCorp from $16.00 to $17.00 and gave the company an overweight rating in a research note on Friday, January 26th. Finally, Raymond James started coverage on KeyCorp in a research report on Monday, January 8th. They set a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $15.71.

KeyCorp Price Performance

NYSE KEY opened at $14.63 on Friday. KeyCorp has a one year low of $8.53 and a one year high of $15.86. The stock has a 50-day moving average of $14.69 and a 200 day moving average of $13.38. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 18.52 and a beta of 1.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.86 and a current ratio of 0.87.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate 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 return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, sell-side analysts forecast that KeyCorp will post 1.17 EPS for the current year.

Insider Buying and Selling at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the 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 transaction, the insider now directly owns 98,120 shares in the company, 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 in the last quarter. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of KeyCorp in the first quarter valued at about $38,000. Point72 Hong Kong Ltd acquired a new stake in KeyCorp during the first quarter worth about $40,000. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp during the fourth quarter worth about $26,000. Sound Income Strategies LLC grew 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 acquiring an additional 1,836 shares during the period. Finally, First United Bank & Trust acquired a new stake in KeyCorp during the fourth quarter worth about $29,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.