CIBC World Markets Inc. acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,127 shares of the financial services provider’s stock, valued at approximately $224,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Zions Bancorporation boosted its position in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in KeyCorp in the third quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in KeyCorp in the third quarter worth about $145,000. AllSquare Wealth Management LLC purchased a new position in KeyCorp in the third quarter worth about $173,000. Finally, Connable Office Inc. purchased a new position in KeyCorp in the third quarter worth about $195,000. 81.08% of the stock is currently owned by institutional investors.
Shares of KeyCorp (NYSE:KEY) traded up $0.07 on Monday, reaching $21.02. The company had a trading volume of 6,807,200 shares, compared to its average volume of 10,598,403. The company has a market cap of $22,472.15, a P/E ratio of 15.34, a PEG ratio of 1.33 and a beta of 1.04. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company earned $0.31 EPS. equities research analysts predict that KeyCorp will post 1.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is presently 37.50%.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of KeyCorp stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares in the company, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Several brokerages have issued reports on KEY. CIBC reissued a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Thursday, December 14th. Vining Sparks reaffirmed a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research report on Thursday, January 18th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, December 26th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $22.07.
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KeyCorp Company Profile
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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