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KeyCorp's (KEY) Outperform Rating Reaffirmed at Royal Bank of Canada

KeyCorp logo with Finance background

KeyCorp (NYSE:KEY - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 price target on the financial services provider's stock. Royal Bank of Canada's target price indicates a potential upside of 3.48% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley decreased their price objective on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday. Barclays upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Evercore ISI boosted their price target on KeyCorp from $18.50 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Finally, Citigroup downgraded KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research note on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.58.

Read Our Latest Report on KEY

KeyCorp Stock Down 1.4 %

Shares of KEY traded down $0.25 on Wednesday, hitting $17.40. The company's stock had a trading volume of 7,294,165 shares, compared to its average volume of 13,454,664. The firm's fifty day moving average price is $18.13 and its 200-day moving average price is $17.06. KeyCorp has a fifty-two week low of $13.10 and a fifty-two 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 firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 1,738.50, a P/E/G ratio of 0.69 and a beta of 1.27.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. boosted its holdings in KeyCorp by 3.2% in the third 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 boosted its stake in shares of KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider's stock valued at $176,631,000 after purchasing an additional 2,339,454 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of KeyCorp by 3.2% in 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 purchasing an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in KeyCorp by 108.3% during 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 last quarter. Finally, Azora Capital LP acquired a new position in KeyCorp in the third quarter valued at $92,413,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for KeyCorp (NYSE:KEY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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