Beese Fulmer Investment Management Inc. reduced its stake in shares of KeyCorp (NYSE:KEY) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,294 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in KeyCorp were worth $1,265,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in KEY. Stanley Laman Group Ltd. increased its holdings in KeyCorp by 0.7% in the 1st quarter. Stanley Laman Group Ltd. now owns 83,786 shares of the financial services provider’s stock valued at $1,320,000 after buying an additional 586 shares during the period. Rehmann Capital Advisory Group increased its holdings in KeyCorp by 10.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 7,012 shares of the financial services provider’s stock valued at $110,000 after buying an additional 640 shares during the period. Global Retirement Partners LLC increased its holdings in KeyCorp by 50.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock valued at $31,000 after buying an additional 669 shares during the period. Brown Advisory Inc. increased its holdings in KeyCorp by 2.9% in the 4th quarter. Brown Advisory Inc. now owns 23,848 shares of the financial services provider’s stock valued at $353,000 after buying an additional 672 shares during the period. Finally, Sowell Financial Services LLC increased its holdings in KeyCorp by 2.3% in the 4th quarter. Sowell Financial Services LLC now owns 37,219 shares of the financial services provider’s stock valued at $550,000 after buying an additional 854 shares during the period. Hedge funds and other institutional investors own 80.27% of the company’s stock.
NYSE:KEY traded up $0.60 during mid-day trading on Tuesday, reaching $17.97. 9,992,274 shares of the company were exchanged, compared to its average volume of 11,417,850. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91. The firm’s fifty day moving average is $17.37. 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 stock has a market capitalization of $17.59 billion, a PE ratio of 10.39, a PEG ratio of 5.23 and a beta of 1.25.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.185 per share. The ex-dividend date is Monday, August 26th. This represents a $0.74 dividend on an annualized basis and a yield of 4.12%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio is currently 39.31%.
In other KeyCorp news, insider Amy G. Brady sold 13,238 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.00, for a total transaction of $225,046.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on KEY shares. Wood & Company reissued an “average” rating and issued a $38.00 price target on shares of KeyCorp in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Robert W. Baird lowered their target price on shares of Micron Technology from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Friday, June 21st. Jefferies Financial Group upped their target price on shares of KeyCorp from $20.00 to $18.50 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.91.
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.
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