Winslow Evans & Crocker Inc. boosted its holdings in KeyCorp (NYSE:KEY) by 106.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,604 shares of the financial services provider’s stock after acquiring an additional 3,926 shares during the quarter. Winslow Evans & Crocker Inc.’s holdings in KeyCorp were worth $136,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in KeyCorp by 4.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,976 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 2,538 shares in the last quarter. Bell Rock Capital LLC boosted its stake in KeyCorp by 1.1% during 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 purchasing an additional 1,908 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in KeyCorp during the 1st quarter valued at $1,163,000. WP Advisors LLC bought a new position in KeyCorp during the 1st quarter valued at $102,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in KeyCorp during the 1st quarter valued at $645,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
A number of equities analysts have issued reports on the company. Nomura set a $18.00 price target on KeyCorp and gave the company a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Wood & Company reissued an “average” rating and set a $38.00 price objective on shares of KeyCorp in a research note on Thursday, May 16th. JPMorgan Chase & Co. lowered KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a research note on Thursday, April 4th. Finally, Robert W. Baird raised KeyCorp from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $19.00 in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $23.03.
KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. KeyCorp’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Equities analysts anticipate that KeyCorp will post 1.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Monday, August 26th. This is a boost from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio (DPR) is 39.31%.
In other news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.00, for a total value of $225,046.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $18.26, for a total value of $1,825,981.74. Following the completion of the sale, the insider now directly owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
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.
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