Commerzbank Aktiengesellschaft FI purchased a new stake in KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,221 shares of the financial services provider’s stock, valued at approximately $268,000.
Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of KeyCorp by 78.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after purchasing an additional 24,554 shares during the period. Flippin Bruce & Porter Inc. lifted its stake in shares of KeyCorp by 3.9% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock valued at $8,468,000 after purchasing an additional 17,103 shares during the period. Toronto Dominion Bank lifted its stake in shares of KeyCorp by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after purchasing an additional 42,971 shares during the period. Greenwood Capital Associates LLC lifted its stake in shares of KeyCorp by 1.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 534 shares during the period. Finally, Private Capital Management Inc. lifted its stake in shares of KeyCorp by 29.7% in the 3rd quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 6,300 shares during the period. 81.20% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. CIBC reissued a “buy” rating on shares of KeyCorp in a research note on Friday. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup raised their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. KeyCorp presently has a consensus rating of “Hold” and a consensus target price of $21.09.
KeyCorp (NYSE KEY) traded down $0.16 during mid-day trading on Tuesday, reaching $19.73. The company’s stock had a trading volume of 9,581,800 shares, compared to its average volume of 10,984,752. The company has a market cap of $21,389.70, a PE ratio of 15.07, a PEG ratio of 1.81 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a 52-week low of $16.28 and a 52-week high of $20.07.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. equities analysts expect that KeyCorp will post 1.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is 36.84%.
In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the transaction, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average price of $18.23 per share, with a total value of $25,048.02. Following the acquisition, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 57,212 shares of company stock valued at $1,060,508. Corporate insiders own 0.65% of the company’s stock.
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KeyCorp Company Profile
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.
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