D.A. Davidson & CO. Raises Position in KeyCorp $KEY

D.A. Davidson & CO. boosted its holdings in shares of KeyCorp (NYSE:KEY) by 64.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,684 shares of the financial services provider’s stock after buying an additional 39,712 shares during the period. D.A. Davidson & CO.’s holdings in KeyCorp were worth $1,900,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Brighton Jones LLC bought a new stake in shares of KeyCorp during the 4th quarter valued at about $476,000. AQR Capital Management LLC lifted its position in KeyCorp by 5.1% during the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock valued at $6,495,000 after purchasing an additional 20,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in KeyCorp by 218.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 308,683 shares of the financial services provider’s stock valued at $4,936,000 after purchasing an additional 211,780 shares during the last quarter. NewEdge Advisors LLC grew its stake in KeyCorp by 3.7% in the 1st quarter. NewEdge Advisors LLC now owns 95,676 shares of the financial services provider’s stock worth $1,530,000 after buying an additional 3,370 shares in the last quarter. Finally, Woodline Partners LP increased its holdings in shares of KeyCorp by 41.4% in the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after buying an additional 24,627 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KEY shares. Morgan Stanley lifted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. DA Davidson lifted their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Baird R W cut KeyCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday. Royal Bank Of Canada increased their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company set a $18.00 target price on KeyCorp and gave the stock an “underperform” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.33.

KeyCorp Trading Down 1.3%

NYSE KEY opened at $21.22 on Friday. The firm has a market cap of $23.19 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 0.53 and a beta of 1.09. KeyCorp has a 1-year low of $12.73 and a 1-year high of $21.75. The stock has a 50-day moving average of $19.42 and a 200-day moving average of $18.66. 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 announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The business’s quarterly revenue was up 172.7% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, December 2nd. KeyCorp’s dividend payout ratio is currently 101.23%.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.