KeyCorp (NYSE:KEY) Price Target Increased to $17.00 by Analysts at Royal Bank of Canada

KeyCorp (NYSE:KEY) had its target price hoisted by Royal Bank of Canada from $16.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.61% from the stock’s current price.

Several other research firms also recently issued reports on KEY. Wedbush increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Jefferies Financial Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Argus raised their target price on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods boosted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.06.

KeyCorp Stock Performance

KEY stock traded down $0.05 during midday trading on Friday, hitting $15.51. 7,589,117 shares of the stock traded hands, compared to its average volume of 14,787,253. The stock’s fifty day simple moving average is $14.38 and its 200-day simple moving average is $14.51. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a 1-year low of $9.50 and a 1-year high of $16.47. The firm has a market cap of $14.62 billion, a P/E ratio of 19.60, a PEG ratio of 0.84 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, analysts expect that KeyCorp will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Pathway Financial Advisers LLC purchased a new stake in KeyCorp in the 1st quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp during the fourth quarter valued at about $26,000. First United Bank & Trust purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $29,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp in the 1st quarter worth approximately $32,000. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of KeyCorp by 195.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.