OLD National Bancorp IN increased its holdings in KeyCorp (NYSE:KEY) by 62.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,226 shares of the financial services provider’s stock after buying an additional 63,785 shares during the period. OLD National Bancorp IN’s holdings in KeyCorp were worth $2,950,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in KeyCorp by 4.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,976 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 2,538 shares during the last quarter. Bell Rock Capital LLC grew its holdings in shares of KeyCorp by 1.1% during the first quarter. Bell Rock Capital LLC now owns 181,703 shares of the financial services provider’s stock valued at $2,863,000 after buying an additional 1,908 shares during the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of KeyCorp during the first quarter valued at $1,163,000. WP Advisors LLC purchased a new stake in shares of KeyCorp during the first quarter valued at $102,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of KeyCorp during the first quarter valued at $645,000. 80.36% of the stock is owned by institutional investors.
In other KeyCorp news, insider Amy G. Brady sold 13,238 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 99,999 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that KeyCorp will post 1.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, August 26th. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio is 39.31%.
A number of equities research analysts have recently weighed in on KEY shares. Credit Suisse Group raised shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, August 7th. ValuEngine raised shares of KeyCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and upped their price target for the company from $18.00 to $19.00 in a report on Friday, June 21st. Nomura set a $18.00 price target on shares of KeyCorp and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. KeyCorp has a consensus rating of “Hold” and an average target price of $23.88.
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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