Royal Fund Management LLC Acquires 7,300 Shares of KeyCorp (NYSE:KEY)

Royal Fund Management LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 70.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,700 shares of the financial services provider’s stock after purchasing an additional 7,300 shares during the period. Royal Fund Management LLC’s holdings in KeyCorp were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Pathway Financial Advisers LLC bought a new position in KeyCorp in the first quarter valued at approximately $25,000. First United Bank & Trust bought a new position in KeyCorp during the fourth quarter worth about $29,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $32,000. Quarry LP acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $38,000. Finally, Criterion Capital Advisors LLC bought a new position in KeyCorp during the 4th quarter worth approximately $39,000. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KEY shares. Wedbush increased their price target on KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of KeyCorp in a research note on Tuesday. Argus increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Finally, Morgan Stanley increased their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average target price of $16.59.

KeyCorp Trading Up 1.2 %

Shares of KEY stock traded up $0.19 on Friday, hitting $16.39. The company had a trading volume of 12,611,080 shares, compared to its average volume of 15,168,506. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a twelve month low of $9.50 and a twelve month high of $17.09. The stock’s 50-day moving average is $14.76 and its two-hundred day moving average is $14.68. The firm has a market cap of $15.45 billion, a P/E ratio of 20.75, a P/E/G ratio of 0.87 and a beta of 1.26.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.00%. KeyCorp’s dividend payout ratio is 103.80%.

KeyCorp Profile

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.