Comerica Bank boosted its holdings in shares of KeyCorp (NYSE:KEY) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 451,667 shares of the financial services provider’s stock after acquiring an additional 17,332 shares during the period. Comerica Bank’s holdings in KeyCorp were worth $8,234,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Ballentine Partners LLC lifted its holdings in KeyCorp by 0.5% during the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 66 shares in the last quarter. Comerica Securities Inc. lifted its holdings in KeyCorp by 0.7% during the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 83 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of KeyCorp by 0.3% in the 2nd quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 117 shares during the period. Dividend Assets Capital LLC raised its stake in shares of KeyCorp by 0.5% in the 2nd quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 125 shares during the period. Finally, HM Payson & Co. raised its stake in shares of KeyCorp by 1.2% in the 2nd quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.
In related news, Director Carlton L. Highsmith sold 7,600 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Paul N. Harris sold 2,758 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. In the last 90 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.
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Shares of KeyCorp (KEY) opened at $18.31 on Friday. KeyCorp has a 1-year low of $16.28 and a 1-year high of $19.53. The stock has a market capitalization of $19,690.57, a P/E ratio of 13.87, a PEG ratio of 1.67 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 9.84% and a net margin of 23.57%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. equities research analysts expect that KeyCorp will post 1.37 EPS for the current 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 issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s payout ratio is currently 33.33%.
Several analysts have issued reports on KEY shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of KeyCorp in a research note on Saturday, July 22nd. BMO Capital Markets reissued a “buy” rating and issued a $22.00 price target on shares of KeyCorp in a research note on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research note on Friday, July 28th. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company started coverage on KeyCorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.82.
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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