Royal Bank Of Canada reaffirmed their buy rating on shares of KeyCorp (NYSE:KEY) in a report issued on Friday. Royal Bank Of Canada currently has a $21.00 price target on the financial services provider’s stock.

KEY has been the subject of a number of other research reports. Zacks Investment Research upgraded KeyCorp from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Wednesday, June 21st. Morgan Stanley reiterated an overweight rating and issued a $22.00 price objective (up previously from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. Deutsche Bank AG reiterated a hold rating on shares of KeyCorp in a research note on Monday, July 3rd. CIBC reiterated a hold rating on shares of KeyCorp in a research note on Monday, April 24th. Finally, FBR & Co reiterated an outperform rating and issued a $22.00 price objective (up previously from $21.00) on shares of KeyCorp in a research note on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $19.78.

KeyCorp (NYSE KEY) opened at 18.04 on Friday. KeyCorp has a 52-week low of $11.35 and a 52-week high of $19.53. The firm’s 50-day moving average is $18.64 and its 200-day moving average is $18.27. The stock has a market capitalization of $19.71 billion, a price-to-earnings ratio of 17.91 and a beta of 1.13.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis. Analysts predict that KeyCorp will post $1.36 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “KeyCorp (KEY) Given Buy Rating at Royal Bank Of Canada” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.watchlistnews.com/keycorp-key-given-buy-rating-at-royal-bank-of-canada/1464978.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, August 25th. KeyCorp’s payout ratio is 38.78%.

KeyCorp declared that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other KeyCorp news, Director Alexander M. Cutler acquired 5,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was purchased at an average price of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the transaction, the director now owns 55,000 shares of the company’s stock, valued at approximately $1,020,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig A. Buffie sold 31,385 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $18.01, for a total value of $565,243.85. The disclosure for this sale can be found here. Insiders acquired 11,000 shares of company stock valued at $200,720 in the last quarter. 0.65% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of KEY. BlackRock Inc. raised its stake in KeyCorp by 3,258.1% in the first quarter. BlackRock Inc. now owns 84,413,892 shares of the financial services provider’s stock valued at $1,500,878,000 after buying an additional 81,900,174 shares during the period. Janus Capital Management LLC raised its stake in KeyCorp by 2,048.7% in the first quarter. Janus Capital Management LLC now owns 6,317,037 shares of the financial services provider’s stock valued at $112,317,000 after buying an additional 6,023,049 shares during the period. Vanguard Group Inc. raised its stake in KeyCorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 107,188,420 shares of the financial services provider’s stock valued at $1,905,811,000 after buying an additional 3,502,973 shares during the period. Renaissance Technologies LLC purchased a new stake in KeyCorp during the first quarter valued at $47,742,000. Finally, JPMorgan Chase & Co. raised its stake in KeyCorp by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 42,783,161 shares of the financial services provider’s stock valued at $760,682,000 after buying an additional 2,386,757 shares during the period. 81.23% of the stock is currently owned by institutional investors.

About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Analyst Recommendations for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with Analyst Ratings Network's FREE daily email newsletter.