KeyCorp’s (KEY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of KeyCorp (NYSE:KEY) in a research note released on Wednesday,Benzinga reports. They currently have a $18.00 price target on the financial services provider’s stock.

Several other research firms also recently weighed in on KEY. Truist Financial began coverage on KeyCorp in a report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. Evercore ISI boosted their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Thursday, November 7th. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday. Nine equities research 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.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

KeyCorp Trading Down 1.8 %

Shares of KeyCorp stock opened at $17.32 on Wednesday. The company’s 50 day moving average price is $18.13 and its two-hundred 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 debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.74%. KeyCorp’s dividend payout ratio is presently -273.32%.

Insider Activity

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

Institutional Trading of KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC grew its holdings in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC purchased a new position in KeyCorp during the third quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in KeyCorp in the 3rd quarter valued at $35,000. Finally, Capital Performance Advisors LLP bought a new stake in KeyCorp during the third quarter valued at $38,000. 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.