EJF Capital LLC bought a new position in shares of KeyCorp (NYSE:KEY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,620,000 shares of the financial services provider’s stock, valued at approximately $30,488,000. KeyCorp accounts for 3.2% of EJF Capital LLC’s holdings, making the stock its 11th largest position. EJF Capital LLC owned 0.15% of KeyCorp as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of KeyCorp during the third quarter worth $145,000. Sun Life Financial INC increased its position in shares of KeyCorp by 80,370.0% during the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares in the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of KeyCorp during the third quarter worth $173,000. Quantbot Technologies LP acquired a new position in shares of KeyCorp during the second quarter worth $174,000. Finally, Connable Office Inc. acquired a new position in shares of KeyCorp during the third quarter worth $195,000. Institutional investors own 81.20% of the company’s stock.
Several equities analysts recently issued reports on KEY shares. Zacks Investment Research downgraded KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $21.00 to $22.00 in a research report on Thursday, September 14th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.97.
In other news, Director Carlton L. Highsmith sold 7,600 shares of KeyCorp stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,212 shares of company stock valued at $1,060,508. Corporate insiders own 0.65% of the company’s stock.
Shares of KeyCorp (KEY) traded up $0.50 during mid-day trading on Tuesday, reaching $19.63. 16,942,200 shares of the company’s stock traded hands, compared to its average volume of 11,005,056. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. KeyCorp has a 52 week low of $16.28 and a 52 week high of $19.93. The stock has a market cap of $20,572.40, a PE ratio of 14.49, a PEG ratio of 1.74 and a beta of 1.10.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. sell-side analysts predict that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.105 per share. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s payout ratio is 36.84%.
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KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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