KeyCorp (NYSE:KEY) insider Douglas M. Schosser sold 6,048 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total value of $129,971.52. Following the completion of the sale, the insider now directly owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
KEY stock opened at $21.64 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.98. The firm has a market cap of $22.71 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.79 and a beta of 1.00. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.60 billion. KeyCorp had a return on equity of 11.73% and a net margin of 20.05%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. equities research analysts anticipate that KeyCorp will post 1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be paid a dividend of $0.17 per share. This is a boost from KeyCorp’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, August 27th. This represents a $0.68 annualized dividend and a yield of 3.14%. KeyCorp’s dividend payout ratio (DPR) is 35.29%.
KeyCorp announced that its board has initiated a stock repurchase program on Thursday, June 28th that allows the company to buyback $1.23 billion in shares. This buyback authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC purchased a new position in shares of KeyCorp during the second quarter worth $113,000. Mount Yale Investment Advisors LLC purchased a new position in shares of KeyCorp during the first quarter worth $114,000. First Personal Financial Services boosted its position in shares of KeyCorp by 139.7% during the first quarter. First Personal Financial Services now owns 5,894 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,435 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of KeyCorp by 8,462.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after buying an additional 6,093 shares during the period. Finally, Edge Wealth Management LLC purchased a new position in shares of KeyCorp during the second quarter worth $161,000. 81.24% of the stock is owned by institutional investors.
Several equities research analysts recently commented on KEY shares. Morgan Stanley increased their price target on KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. Vining Sparks reaffirmed a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a report on Thursday, July 19th. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Susquehanna Bancshares raised KeyCorp from a “neutral” rating to a “positive” rating and increased their price target for the company from $24.00 to $25.00 in a report on Tuesday, April 24th. Finally, Mizuho increased their price target on KeyCorp from $25.00 to $25.50 and gave the company an “overweight” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. KeyCorp presently has a consensus rating of “Buy” and a consensus target price of $23.24.
KeyCorp Company Profile
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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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