Trina Evans Sells 32,695 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) Director Trina Evans sold 32,695 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

KeyCorp Price Performance

KeyCorp stock opened at $21.09 on Friday. The firm has a market capitalization of $23.05 billion, a PE ratio of 13.88, a P/E/G ratio of 0.51 and a beta of 1.09. KeyCorp has a 52 week low of $12.73 and a 52 week high of $22.07. The firm’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $18.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. KeyCorp’s dividend payout ratio is presently 53.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KEY. UBS Group upped their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. TD Cowen restated a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Jefferies Financial Group lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. boosted their price objective on shares of KeyCorp from $19.50 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Finally, Robert W. Baird lowered shares of KeyCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.63.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of KEY. Farther Finance Advisors LLC increased its position in KeyCorp by 87.5% during the fourth quarter. Farther Finance Advisors LLC now owns 32,444 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 15,142 shares during the last quarter. Sage Mountain Advisors LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $211,000. Octavia Wealth Advisors LLC purchased a new stake in shares of KeyCorp during the 4th quarter valued at $201,000. Assetmark Inc. increased its holdings in shares of KeyCorp by 21.9% during the 4th quarter. Assetmark Inc. now owns 81,714 shares of the financial services provider’s stock worth $1,687,000 after buying an additional 14,703 shares during the last quarter. Finally, KG&L Capital Management LLC increased its holdings in shares of KeyCorp by 6.9% during the 4th quarter. KG&L Capital Management LLC now owns 64,260 shares of the financial services provider’s stock worth $1,326,000 after buying an additional 4,142 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company 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.