Azora Capital LP Boosts Holdings in KeyCorp $KEY

Azora Capital LP lifted its position in shares of KeyCorp (NYSE:KEY) by 131.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,369,008 shares of the financial services provider’s stock after buying an additional 3,049,155 shares during the quarter. KeyCorp comprises 4.2% of Azora Capital LP’s holdings, making the stock its 5th biggest position. Azora Capital LP owned 0.49% of KeyCorp worth $93,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dakota Wealth Management raised its stake in KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 586 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its position in shares of KeyCorp by 4.8% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock valued at $233,000 after buying an additional 608 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of KeyCorp by 2.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after buying an additional 639 shares in the last quarter. Amalgamated Bank boosted its stake in shares of KeyCorp by 0.4% in the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after buying an additional 683 shares during the period. Finally, Greenleaf Trust grew its position in KeyCorp by 5.7% during the second quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock worth $222,000 after buying an additional 691 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Up 3.0%

Shares of KeyCorp stock opened at $19.97 on Wednesday. The firm’s 50 day moving average is $17.95 and its 200 day moving average is $17.90. The firm has a market capitalization of $21.82 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.33. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s quarterly revenue was up 172.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. KeyCorp’s payout ratio is currently 101.23%.

Analyst Ratings Changes

KEY has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a research report on Monday. Evercore ISI increased their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. UBS Group boosted their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, December 1st. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.78.

KeyCorp 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.