Royal Bank Of Canada Issues Positive Forecast for KeyCorp (NYSE:KEY) Stock Price

by · The Cerbat Gem

KeyCorp (NYSE:KEY – Get Free Report) had its price objective boosted by Royal Bank Of Canada from $20.00 to $22.00 in a research report issued to clients and 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 target indicates a potential upside of 6.69% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Truist Financial reduced their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, October 17th. DA Davidson increased their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Tuesday. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $21.26.

Check Out Our Latest Analysis on KeyCorp

KeyCorp Trading Down 0.3%

NYSE:KEY traded down $0.07 during trading hours on Friday, reaching $20.62. The company’s stock had a trading volume of 17,219,369 shares, compared to its average volume of 17,143,762. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.62 and a beta of 1.11. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.84. The firm has a 50-day simple moving average of $18.07 and a 200-day simple moving average of $17.97. 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 – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) EPS. Research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in shares of KeyCorp by 2,258.4% during the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after purchasing an additional 2,463,880 shares during the period. Nordea Investment Management AB grew its position in KeyCorp by 23.2% during the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after buying an additional 20,228 shares during the period. Signal Advisors Wealth LLC purchased a new position in KeyCorp in the second quarter valued at $431,000. Prudential Financial Inc. boosted its stake in shares of KeyCorp by 9.9% during the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after acquiring an additional 51,705 shares in the last quarter. Finally, Korea Investment CORP increased its stake in shares of KeyCorp by 175.5% in the 2nd quarter. Korea Investment CORP now owns 447,252 shares of the financial services provider’s stock valued at $7,791,000 after purchasing an additional 284,928 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.

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