M&T Bank Corp boosted its position in KeyCorp (NYSE:KEY) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,925 shares of the financial services provider’s stock after purchasing an additional 4,576 shares during the quarter. M&T Bank Corp’s holdings in KeyCorp were worth $1,754,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation raised its holdings in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in KeyCorp in the third quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in KeyCorp in the third quarter worth about $145,000. AllSquare Wealth Management LLC bought a new position in KeyCorp in the third quarter worth about $173,000. Finally, Connable Office Inc. bought a new position in KeyCorp in the third quarter worth about $195,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
A number of brokerages have commented on KEY. Zacks Investment Research downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $23.00 to $24.00 in a report on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. DA Davidson upped their price objective on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Sandler O’Neill restated a “hold” rating and set a $21.50 price objective on shares of KeyCorp in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.07.
In other news, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, 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 available at this link. Also, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the sale, the insider now owns 51,791 shares in the company, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
Shares of KeyCorp (NYSE KEY) opened at $21.02 on Friday. The company has a market capitalization of $22,472.15, a P/E ratio of 15.34, a P/E/G ratio of 1.33 and a beta of 1.04. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.31 earnings per share. equities analysts expect that KeyCorp will post 1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. KeyCorp’s dividend payout ratio is currently 37.50%.
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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