Patten & Patten Inc. TN Raises Holdings in KeyCorp (KEY)

Patten & Patten Inc. TN boosted its position in KeyCorp (NYSE:KEY) by 125.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,197 shares of the financial services provider’s stock after buying an additional 337,842 shares during the quarter. KeyCorp makes up approximately 1.2% of Patten & Patten Inc. TN’s portfolio, making the stock its 20th biggest position. Patten & Patten Inc. TN owned about 0.06% of KeyCorp worth $12,227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in KeyCorp by 25.7% in the fourth quarter. State of Alaska Department of Revenue now owns 168,222 shares of the financial services provider’s stock worth $3,391,000 after buying an additional 34,390 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in KeyCorp by 27.0% in the fourth quarter. Fox Run Management L.L.C. now owns 36,462 shares of the financial services provider’s stock worth $735,000 after buying an additional 7,762 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in KeyCorp by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,710,242 shares of the financial services provider’s stock worth $74,836,000 after buying an additional 134,355 shares in the last quarter. National Pension Service boosted its stake in KeyCorp by 4.5% in the fourth quarter. National Pension Service now owns 1,113,145 shares of the financial services provider’s stock worth $22,452,000 after buying an additional 47,814 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in KeyCorp by 7.1% in the fourth quarter. Bank of Montreal Can now owns 3,074,125 shares of the financial services provider’s stock worth $62,004,000 after buying an additional 204,584 shares in the last quarter. 81.00% of the stock is owned by institutional investors and hedge funds.

Shares of KeyCorp (NYSE:KEY) traded up $0.34 during mid-day trading on Monday, reaching $21.16. The company’s stock had a trading volume of 13,614,699 shares, compared to its average volume of 10,088,754. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a 12-month low of $16.28 and a 12-month high of $21.71. The company has a market capitalization of $22,760.00, a P/E ratio of 18.89, a P/E/G ratio of 1.58 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the previous year, the company posted $0.31 earnings per share. equities analysts forecast that KeyCorp will post 1.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. KeyCorp’s dividend payout ratio is presently 37.50%.

Several analysts have issued reports on the company. Vining Sparks reaffirmed a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research note on Thursday. Sandler O’Neill reaffirmed a “hold” rating and issued a $21.50 target price on shares of KeyCorp in a research note on Friday. DA Davidson upped their target price on KeyCorp to $26.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Finally, Barclays upped their target price on KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. KeyCorp currently has an average rating of “Buy” and an average target price of $21.98.

In other KeyCorp news, Director Elizabeth R. Gile bought 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now directly owns 24,989 shares in the company, valued at $455,549.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the transaction, the director now owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is owned by corporate insiders.

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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.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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