Cornell Pochily Investment Advisors Inc. lifted its stake in KeyCorp (NYSE:KEY) by 45.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,908 shares of the financial services provider’s stock after buying an additional 5,914 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in KeyCorp were worth $336,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in KeyCorp by 4.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,976 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 2,538 shares during the last quarter. Bell Rock Capital LLC raised its position in KeyCorp by 1.1% during the first quarter. Bell Rock Capital LLC now owns 181,703 shares of the financial services provider’s stock worth $2,863,000 after acquiring an additional 1,908 shares in the last quarter. TrimTabs Asset Management LLC bought a new stake in KeyCorp during the first quarter worth $1,163,000. Winslow Evans & Crocker Inc. raised its position in KeyCorp by 106.7% during the second quarter. Winslow Evans & Crocker Inc. now owns 7,604 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 3,926 shares in the last quarter. Finally, WP Advisors LLC bought a new stake in KeyCorp during the first quarter worth $102,000. Institutional investors own 80.91% of the company’s stock.
In related news, insider Amy G. Brady sold 13,238 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.00, for a total value of $225,046.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the transaction, the insider now directly owns 85,469 shares in the company, valued at $1,560,663.94. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Several equities analysts have recently weighed in on KEY shares. BMO Capital Markets increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. GMP Securities reissued an “average” rating and issued a $34.50 price objective on shares of KeyCorp in a research report on Friday, May 17th. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research report on Monday, July 8th. Nomura set a $18.00 price objective on shares of KeyCorp and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $19.00 in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Hold” and an average price target of $23.88.
KeyCorp stock opened at $15.92 on Friday. The firm has a 50 day moving average price of $17.46 and a two-hundred day moving average price of $17.03. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. KeyCorp has a 52-week low of $13.65 and a 52-week high of $21.91.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. KeyCorp’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, equities research analysts predict that KeyCorp will post 1.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a $0.185 dividend. The ex-dividend date is Monday, August 26th. This represents a $0.74 annualized dividend and a yield of 4.65%. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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