KeyCorp (NYSE:KEY) Earns “Outperform” Rating from Royal Bank of Canada

KeyCorp (NYSE:KEY)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $18.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 3.01% from the company’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial assumed coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target for the company. Wells Fargo & Company raised their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Stephens reissued an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.58.

KeyCorp Stock Up 1.0 %

Shares of KEY stock opened at $17.47 on Wednesday. The stock has a market cap of $17.32 billion, a P/E ratio of -58.24, a PEG ratio of 0.67 and a beta of 1.27. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $18.10 and its two-hundred day simple moving average is $17.06.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in KEY. Charles Schwab Investment Management Inc. raised its holdings in KeyCorp by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after acquiring an additional 993,942 shares during the last quarter. Earnest Partners LLC increased its position in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after purchasing an additional 2,339,454 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after acquiring an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Finally, Azora Capital LP purchased a new position in KeyCorp in the 3rd quarter worth approximately $92,413,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.