Prospera Financial Services Inc acquired a new stake in KeyCorp (NYSE:KEY – Get Rating) during the 1st quarter, Holdings Channel.com reports. The firm acquired 9,815 shares of the financial services provider’s stock, valued at approximately $220,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. DeDora Capital Inc. purchased a new stake in shares of KeyCorp in the first quarter valued at $28,000. Glassman Wealth Services lifted its position in shares of KeyCorp by 31.3% in the fourth quarter. Glassman Wealth Services now owns 1,778 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 424 shares in the last quarter. MBM Wealth Consultants LLC increased its stake in KeyCorp by 37.3% in the fourth quarter. MBM Wealth Consultants LLC now owns 2,115 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 575 shares during the last quarter. Nauset Wealth Management. LLC acquired a new position in KeyCorp in the first quarter valued at $57,000. Finally, CENTRAL TRUST Co increased its stake in KeyCorp by 65.2% in the first quarter. CENTRAL TRUST Co now owns 2,786 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,100 shares during the last quarter. 83.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
KEY has been the subject of several research analyst reports. Citigroup dropped their price target on KeyCorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Barclays reduced their price target on KeyCorp from $26.00 to $24.00 and set a “maintains” rating for the company in a report on Friday, July 22nd. Wells Fargo & Company reduced their target price on KeyCorp from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Wedbush increased their target price on KeyCorp to $21.00 in a report on Friday, July 22nd. Finally, Morgan Stanley increased their price target on KeyCorp from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.25.
KeyCorp Stock Performance
KeyCorp (NYSE:KEY – Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. KeyCorp had a return on equity of 15.01% and a net margin of 28.53%. KeyCorp’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, equities analysts predict that KeyCorp will post 2.23 EPS for the current fiscal year.
KeyCorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be given a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.78 annualized dividend and a dividend yield of 4.31%. KeyCorp’s dividend payout ratio (DPR) is presently 34.21%.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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