Flippin Bruce & Porter Inc. Has $8.93 Million Stake in KeyCorp (KEY)

Flippin Bruce & Porter Inc. lessened its stake in shares of KeyCorp (NYSE:KEY) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 442,772 shares of the financial services provider’s stock after selling 6,125 shares during the period. KeyCorp accounts for approximately 1.9% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 23rd biggest position. Flippin Bruce & Porter Inc.’s holdings in KeyCorp were worth $8,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of KeyCorp by 2.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock worth $67,299,000 after acquiring an additional 71,018 shares during the period. New England Research & Management Inc. raised its holdings in KeyCorp by 12.8% in the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 5,750 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in KeyCorp in the 3rd quarter valued at about $268,000. Toronto Dominion Bank raised its holdings in KeyCorp by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after buying an additional 42,971 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in KeyCorp by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 18,181 shares during the period. Institutional investors and hedge funds own 81.08% of the company’s stock.

In other news, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total value of $527,750.00. Following the transaction, the insider now directly owns 175,053 shares of the company’s stock, valued at $3,695,368.83. The disclosure for this sale can be found here. Insiders have sold 92,857 shares of company stock worth $1,953,548 over the last quarter. Insiders own 0.65% of the company’s stock.

Several analysts recently issued reports on KEY shares. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. ValuEngine lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. CIBC restated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a report on Thursday, December 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.07.

Shares of KeyCorp (NYSE:KEY) opened at $20.97 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $22,418.69, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. KeyCorp has a one year low of $16.28 and a one year high of $22.22.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the prior year, the firm earned $0.31 earnings per share. sell-side analysts anticipate that KeyCorp will post 1.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a dividend of $0.105 per share. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. KeyCorp’s dividend payout ratio (DPR) is presently 37.50%.

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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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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