Royal Bank Of Canada Raises KeyCorp (NYSE:KEY) Price Target to $22.00

KeyCorp (NYSE:KEY) had its price target lifted by analysts at Royal Bank Of Canada from $20.00 to $22.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 6.69% from the company’s current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reissued a “positive” rating on shares of KeyCorp in a research report on Wednesday. Morgan Stanley boosted their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Jefferies Financial Group increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, December 1st. Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.26.

KeyCorp Trading Down 0.3%

Shares of KEY stock opened at $20.62 on Friday. The stock’s fifty day moving average price is $18.07 and its two-hundred day moving average price is $17.98. The company has a market cap of $22.54 billion, a PE ratio of 25.46, a P/E/G ratio of 0.62 and a beta of 1.11. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s revenue was up 172.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.47) EPS. Equities analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of KEY. Kingsview Wealth Management LLC increased its position in shares of KeyCorp by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after buying an additional 568 shares in the last quarter. Dakota Wealth Management grew its position in shares of KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after buying an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in KeyCorp by 4.8% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 608 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of KeyCorp by 4.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 627 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of KeyCorp by 2.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 639 shares during the period. Hedge funds and other institutional investors 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.