Buckingham Capital Management Inc. Invests $949,000 in KeyCorp (KEY)

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Buckingham Capital Management Inc. purchased a new stake in shares of KeyCorp (NYSE:KEY) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 60,246 shares of the financial services provider’s stock, valued at approximately $949,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC purchased a new stake in KeyCorp in the first quarter worth about $25,000. Bruderman Asset Management LLC purchased a new stake in KeyCorp in the fourth quarter worth about $26,000. First Interstate Bank grew its holdings in KeyCorp by 853.0% in the fourth quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,834 shares during the period. Global Retirement Partners LLC grew its holdings in KeyCorp by 50.7% in the first quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 669 shares during the period. Finally, Executive Wealth Management LLC purchased a new stake in KeyCorp in the fourth quarter worth about $36,000. Institutional investors own 80.92% of the company’s stock.

In other news, insider Angela G. Mago sold 4,162 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the sale, the insider now owns 128,464 shares in the company, valued at $2,226,281.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.08% of the company’s stock.

NYSE:KEY opened at $16.95 on Wednesday. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market cap of $16.89 billion, a PE ratio of 9.80, a PEG ratio of 1.18 and a beta of 1.23.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that KeyCorp will post 1.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s payout ratio is 39.31%.

A number of equities research analysts have weighed in on the stock. GMP Securities restated an “average” rating and issued a $34.50 price objective on shares of KeyCorp in a report on Friday, May 17th. Wood & Company restated an “average” rating and issued a $38.00 price objective on shares of KeyCorp in a report on Thursday, May 16th. Jefferies Financial Group upped their price objective on shares of KeyCorp from $20.00 to $18.50 and gave the stock a “buy” rating in a report on Monday, May 6th. ValuEngine upgraded shares of KeyCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of KeyCorp from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.36.

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KeyCorp 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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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