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

Royal Bank of Canada reaffirmed their outperform rating on shares of KeyCorp (NYSE:KEY) in a research note released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $41.00 price objective on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research report on Monday, April 8th. Argus lifted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company a buy rating in a research report on Friday, April 19th. JPMorgan Chase & Co. lowered their price target on shares of KeyCorp from $18.00 to $17.50 and set a neutral rating for the company in a research report on Friday, June 14th. Evercore ISI lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an outperform rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an outperform rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $17.38.

KeyCorp Trading Up 0.7 %

NYSE:KEY opened at $13.62 on Tuesday. The company has a 50-day moving average price of $14.40 and a 200-day moving average price of $14.45. KeyCorp has a 12 month low of $9.10 and a 12 month high of $15.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 0.69 and a beta of 1.28.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a $0.205 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.02%. KeyCorp’s dividend payout ratio is presently 103.80%.

Institutional Trading of KeyCorp

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in shares of KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. grew its position in KeyCorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the period. Aigen Investment Management LP bought a new stake in KeyCorp during the fourth quarter valued at approximately $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in KeyCorp during the fourth quarter valued at approximately $7,200,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company Profile

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.