Teza Capital Management LLC acquired a new position in shares of KeyCorp (NYSE:KEY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,324 shares of the financial services provider’s stock, valued at approximately $1,171,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc raised its stake in shares of KeyCorp by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock valued at $2,286,547,000 after buying an additional 1,604,187 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of KeyCorp by 9.7% in the 4th quarter. Eqis Capital Management Inc. now owns 10,359 shares of the financial services provider’s stock valued at $153,000 after buying an additional 913 shares in the last quarter. Keybank National Association OH acquired a new position in shares of KeyCorp in the 4th quarter valued at $188,000. OLD National Bancorp IN raised its stake in shares of KeyCorp by 32.5% in the 4th quarter. OLD National Bancorp IN now owns 63,561 shares of the financial services provider’s stock valued at $939,000 after buying an additional 15,608 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of KeyCorp by 42.3% in the 4th quarter. SG Americas Securities LLC now owns 192,594 shares of the financial services provider’s stock valued at $2,847,000 after buying an additional 57,229 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Amy G. Brady sold 13,238 shares of KeyCorp stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.00, for a total value of $225,046.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.60 billion. KeyCorp had a return on equity of 13.16% and a net margin of 24.18%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. On average, sell-side analysts forecast that KeyCorp will post 1.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a $0.17 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.00%. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of KeyCorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $17.00 in a research note on Thursday, April 4th. ValuEngine raised shares of KeyCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Wood & Company reissued an “average” rating and set a $38.00 price objective on shares of KeyCorp in a report on Thursday, May 16th. Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $18.00 to $19.00 in a report on Friday, June 21st. Finally, GMP Securities reissued an “average” rating and set a $34.50 price objective on shares of KeyCorp in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.15.
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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