KeyCorp $KEY Position Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in shares of KeyCorp (NYSE:KEY) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,914 shares of the financial services provider’s stock after acquiring an additional 29,652 shares during the quarter. Janney Montgomery Scott LLC’s holdings in KeyCorp were worth $3,413,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tompkins Financial Corp bought a new stake in shares of KeyCorp in the 2nd quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $28,000. Allworth Financial LP grew its stake in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $34,000. Finally, NBC Securities Inc. grew its stake in shares of KeyCorp by 123,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,478 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,102 shares of company stock worth $3,299,664 over the last three months. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

KEY has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday. Morgan Stanley boosted their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. DA Davidson boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Citigroup restated a “neutral” rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, KeyCorp currently has an average rating of “Hold” and an average price target of $20.53.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $18.08 on Thursday. The business has a fifty day simple moving average of $18.58 and a 200 day simple moving average of $17.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of -258.29, a PEG ratio of 0.64 and a beta of 1.15. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.KeyCorp’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, September 2nd. KeyCorp’s dividend payout ratio is -1,171.43%.

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; 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.