Lbp Am Sa Sells 2,872 Shares of KeyCorp (NYSE:KEY)

Lbp Am Sa cut its stake in KeyCorp (NYSE:KEY) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,289 shares of the financial services provider’s stock after selling 2,872 shares during the period. Lbp Am Sa’s holdings in KeyCorp were worth $447,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First United Bank & Trust acquired a new position in shares of KeyCorp during the fourth quarter worth approximately $29,000. Crewe Advisors LLC purchased a new stake in KeyCorp in the 1st quarter valued at $32,000. Quarry LP purchased a new stake in KeyCorp in the 4th quarter valued at $38,000. Turtle Creek Wealth Advisors LLC purchased a new stake in KeyCorp in the 4th quarter valued at $39,000. Finally, Criterion Capital Advisors LLC purchased a new stake in KeyCorp in the 4th quarter valued at $39,000. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KEY has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Wedbush increased their price target on KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Evercore ISI reduced their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Argus upped their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.13.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.73 on Friday, hitting $14.49. The company’s stock had a trading volume of 10,162,921 shares, compared to its average volume of 14,844,131. The company has a 50-day simple moving average of $14.54 and a 200 day simple moving average of $14.61. KeyCorp has a 1 year low of $9.50 and a 1 year high of $16.50. The company has a market capitalization of $13.67 billion, a PE ratio of 18.42, a PEG ratio of 0.87 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.66%. KeyCorp’s dividend payout ratio is 103.80%.

About KeyCorp

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.