Asset Management One Co. Ltd. increased its position in shares of KeyCorp (NYSE:KEY) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 587,062 shares of the financial services provider’s stock after buying an additional 28,372 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of KeyCorp worth $10,421,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in KEY. Bremer Bank National Association acquired a new position in KeyCorp in the first quarter valued at $29,000. Manchester Financial Inc. acquired a new position in KeyCorp in the second quarter valued at $46,000. Coastal Capital Group Inc. acquired a new position in KeyCorp in the second quarter valued at $50,000. Ossiam acquired a new position in KeyCorp in the second quarter valued at $56,000. Finally, Zions Bancorporation N.A. acquired a new position in KeyCorp in the first quarter valued at $62,000. 80.08% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. ValuEngine raised shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Morgan Stanley reduced their target price on shares of KeyCorp from $21.00 to $20.50 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and upped their target price for the company from $18.00 to $19.00 in a report on Friday, June 21st. Finally, Piper Jaffray Companies set a $19.00 target price on shares of KeyCorp and gave the company a “buy” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. KeyCorp currently has a consensus rating of “Hold” and a consensus target price of $23.58.
Shares of KEY stock traded up $0.21 during trading hours on Friday, hitting $17.40. The company’s stock had a trading volume of 10,391,204 shares, compared to its average volume of 9,230,652. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 2.90 and a beta of 1.29. KeyCorp has a twelve month low of $13.65 and a twelve month high of $19.60. The business has a fifty day moving average of $17.23 and a 200-day moving average of $17.05.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. KeyCorp’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities analysts expect that KeyCorp will post 1.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Monday, August 26th. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio (DPR) is currently 42.77%.
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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