Tower Research Capital LLC TRC Has $1.90 Million Holdings in KeyCorp (NYSE:KEY)

Tower Research Capital LLC TRC boosted its position in KeyCorp (NYSE:KEYFree Report) by 315.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,247 shares of the financial services provider’s stock after buying an additional 100,388 shares during the quarter. Tower Research Capital LLC TRC’s holdings in KeyCorp were worth $1,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Ontario Teachers Pension Plan Board acquired a new position in KeyCorp in the 3rd quarter valued at $274,773,000. Norges Bank bought a new stake in KeyCorp in the 4th quarter valued at $128,203,000. Ceredex Value Advisors LLC bought a new stake in KeyCorp in the 4th quarter valued at $64,421,000. FMR LLC boosted its holdings in KeyCorp by 14.4% in the 3rd quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after purchasing an additional 3,992,226 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in KeyCorp by 844.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock valued at $34,008,000 after purchasing an additional 2,825,977 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

KEY opened at $13.93 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $13.13 billion, a PE ratio of 17.63, a PEG ratio of 0.67 and a beta of 1.28. KeyCorp has a 1-year low of $9.10 and a 1-year high of $15.86. The firm has a 50-day moving average price of $14.75 and a two-hundred day moving average price of $14.37.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, equities analysts anticipate that KeyCorp will post 1.14 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s payout ratio is presently 103.80%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Argus raised their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

View Our Latest Research Report on KeyCorp

About KeyCorp

(Free Report)

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Further Reading

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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