Sentinel Trust Co. LBA lowered its position in shares of KeyCorp (NYSE:KEY) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 104,201 shares of the financial services provider’s stock after selling 98 shares during the period. Sentinel Trust Co. LBA’s holdings in KeyCorp were worth $1,953,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its stake in KeyCorp by 5.5% in the first quarter. Raymond James Trust N.A. now owns 14,906 shares of the financial services provider’s stock worth $265,000 after buying an additional 774 shares during the last quarter. New England Research & Management Inc. boosted its stake in KeyCorp by 106.1% in the first quarter. New England Research & Management Inc. now owns 23,790 shares of the financial services provider’s stock worth $423,000 after buying an additional 12,245 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in KeyCorp by 2.8% in the first quarter. Burns J W & Co. Inc. NY now owns 115,450 shares of the financial services provider’s stock worth $2,053,000 after buying an additional 3,145 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in KeyCorp by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 924,505 shares of the financial services provider’s stock worth $16,438,000 after buying an additional 21,454 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in KeyCorp by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 869,496 shares of the financial services provider’s stock worth $15,885,000 after buying an additional 209,075 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.
Shares of KeyCorp (NYSE KEY) traded down 1.824% during mid-day trading on Friday, hitting $18.035. 9,440,309 shares of the stock were exchanged. KeyCorp has a 52-week low of $11.35 and a 52-week high of $19.53. The stock’s 50-day moving average price is $18.58 and its 200-day moving average price is $18.28. The company has a market cap of $19.77 billion, a P/E ratio of 20.995 and a beta of 1.13.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 14.69% and a return on equity of 9.30%. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Equities research analysts anticipate that KeyCorp will post $1.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, August 25th. KeyCorp’s dividend payout ratio is presently 44.71%.
KeyCorp declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of research firms have recently commented on KEY. Keefe, Bruyette & Woods upgraded shares of KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 11th. Instinet reiterated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a report on Wednesday, July 12th. UBS AG upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $22.00 in a research report on Monday, July 10th. Finally, Jefferies Group LLC restated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.44.
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.
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