Cornell Pochily Investment Advisors Inc. Invests $204,000 in KeyCorp (KEY)

Cornell Pochily Investment Advisors Inc. bought a new position in shares of KeyCorp (NYSE:KEY) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,994 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds also recently made changes to their positions in the business. Commonwealth Bank of Australia raised its holdings in KeyCorp by 10.5% during the fourth quarter. Commonwealth Bank of Australia now owns 140,575 shares of the financial services provider’s stock worth $2,070,000 after purchasing an additional 13,385 shares in the last quarter. Verity & Verity LLC raised its holdings in KeyCorp by 7.0% during the fourth quarter. Verity & Verity LLC now owns 213,854 shares of the financial services provider’s stock worth $3,161,000 after purchasing an additional 13,940 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of KeyCorp by 52.4% in the 4th quarter. Bank of Montreal Can now owns 5,491,759 shares of the financial services provider’s stock valued at $81,168,000 after acquiring an additional 1,888,517 shares during the period. LPL Financial LLC increased its holdings in shares of KeyCorp by 12.6% in the 3rd quarter. LPL Financial LLC now owns 283,225 shares of the financial services provider’s stock valued at $5,633,000 after acquiring an additional 31,689 shares during the period. Finally, Bell Rock Capital LLC increased its holdings in shares of KeyCorp by 1.1% in the 1st quarter. Bell Rock Capital LLC now owns 181,703 shares of the financial services provider’s stock valued at $2,863,000 after acquiring an additional 1,908 shares during the period. 82.78% of the stock is owned by institutional investors.

In other news, insider Robert A. Deangelis sold 31,166 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $17.37, for a total transaction of $541,353.42. Following the completion of the transaction, the insider now owns 196,478 shares of the company’s stock, valued at approximately $3,412,822.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 4,162 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the transaction, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

KeyCorp stock opened at $17.30 on Friday. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $17.44 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). KeyCorp had a return on equity of 13.16% and a net margin of 24.18%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. KeyCorp’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts forecast that KeyCorp will post 1.81 EPS for the current fiscal year.

KEY has been the topic of several recent research reports. BMO Capital Markets cut shares of KeyCorp from an “outperform” rating to a “market perform” rating and set a $17.00 price objective on the stock. in a research note on Friday, January 18th. Argus dropped their price objective on shares of KeyCorp from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 22nd. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Wedbush cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 price objective on the stock. in a research note on Monday, February 4th. They noted that the move was a valuation call. Finally, CIBC reissued an “average” rating on shares of KeyCorp in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.92.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.baseballdailydigest.com/news/2019/05/12/cornell-pochily-investment-advisors-inc-invests-204000-in-keycorp-key-stock.html.

KeyCorp Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

Featured Article: S&P 500 Index

Institutional Ownership by Quarter 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 MarketBeat.com's FREE daily email newsletter.