KeyCorp (NYSE:KEY) Hits New 12-Month Low at $13.67

KeyCorp (NYSE:KEY – Get Rating)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.67 and last traded at $13.67, with a volume of 194124 shares changing hands. The stock had previously closed at $15.66.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KeyCorp from $23.00 to $20.00 in a report on Friday, January 6th. Morgan Stanley decreased their price objective on KeyCorp from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Odeon Capital Group cut KeyCorp from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler raised KeyCorp from an “underweight” rating to a “neutral” rating and decreased their price target for the company from $18.50 to $16.50 in a research note on Friday, March 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, March 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.87.

KeyCorp Price Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.76. The stock’s 50-day moving average price is $18.19 and its 200-day moving average price is $17.77. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 6.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31.

KeyCorp (NYSE:KEY – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.17). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same period in the prior year, the company posted $0.64 EPS. Equities research analysts anticipate that KeyCorp will post 1.99 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Monday, February 27th. KeyCorp’s dividend payout ratio is 42.71%.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 5,352 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $19.95, for a total value of $106,772.40. Following the transaction, the insider now owns 194,280 shares of the company’s stock, valued at approximately $3,875,886. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Angela G. Mago sold 5,352 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $19.95, for a total value of $106,772.40. Following the transaction, the insider now owns 194,280 shares of the company’s stock, valued at approximately $3,875,886. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Amy G. Brady sold 45,000 shares of KeyCorp stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.58, for a total value of $701,100.00. Following the sale, the insider now directly owns 119,121 shares of the company’s stock, valued at $1,855,905.18. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC bought a new stake in KeyCorp in the third quarter valued at approximately $271,000. Pathstone Family Office LLC increased its position in shares of KeyCorp by 1.3% in the 3rd quarter. Pathstone Family Office LLC now owns 97,440 shares of the financial services provider’s stock valued at $1,568,000 after buying an additional 1,260 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in KeyCorp by 49.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,585 shares of the financial services provider’s stock worth $266,000 after buying an additional 5,522 shares during the period. Greenleaf Trust lifted its holdings in KeyCorp by 4.2% during the third quarter. Greenleaf Trust now owns 26,017 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in KeyCorp by 9.4% in the second quarter. Cerity Partners LLC now owns 145,392 shares of the financial services provider’s stock valued at $2,505,000 after acquiring an additional 12,440 shares during the period. 82.11% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company Profile

(Get Rating)

KeyCorp operates as a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.