Moors & Cabot Inc. boosted its holdings in KeyCorp (NYSE:KEY – Free Report) by 19.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,968 shares of the financial services provider’s stock after purchasing an additional 17,358 shares during the quarter. Moors & Cabot Inc.’s holdings in KeyCorp were worth $998,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Meitav Investment House Ltd. acquired a new stake in KeyCorp in the 2nd quarter worth about $84,000. Cetera Advisor Networks LLC increased its holdings in KeyCorp by 77.0% in the 2nd quarter. Cetera Advisor Networks LLC now owns 142,187 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 61,836 shares during the period. Wintrust Investments LLC increased its holdings in KeyCorp by 75.2% in the 2nd quarter. Wintrust Investments LLC now owns 42,042 shares of the financial services provider’s stock valued at $388,000 after buying an additional 18,042 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in KeyCorp by 5.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,910,176 shares of the financial services provider’s stock valued at $183,970,000 after buying an additional 1,098,252 shares during the period. Finally, Citigroup Inc. increased its holdings in KeyCorp by 60.8% in the 2nd quarter. Citigroup Inc. now owns 1,197,053 shares of the financial services provider’s stock valued at $11,061,000 after buying an additional 452,457 shares during the period. Institutional investors and hedge funds own 77.77% of the company’s stock.
Analyst Upgrades and Downgrades
KEY has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of KeyCorp from $11.50 to $13.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wedbush raised their target price on shares of KeyCorp from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, July 21st. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 5th. Morgan Stanley lifted their price target on shares of KeyCorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. Finally, Citigroup lifted their price target on shares of KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.03.
KeyCorp Stock Performance
Shares of KeyCorp stock opened at $12.08 on Friday. The business has a 50-day simple moving average of $10.77 and a 200 day simple moving average of $10.59. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 2.30 and a beta of 1.26. KeyCorp has a one year low of $8.53 and a one year high of $20.30.
KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $1.55 billion. KeyCorp had a net margin of 11.74% and a return on equity of 11.64%. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, research analysts anticipate that KeyCorp will post 1.23 earnings per share for the current fiscal year.
KeyCorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 6.79%. KeyCorp’s dividend payout ratio (DPR) is presently 66.13%.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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