KeyCorp (NYSE:KEY) Shares Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH grew its stake in KeyCorp (NYSE:KEY) by 8.6% during the first quarter, HoldingsChannel.com reports. The firm owned 39,021 shares of the financial services provider’s stock after purchasing an additional 3,086 shares during the period. Trust Co. of Toledo NA OH’s holdings in KeyCorp were worth $617,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $26,000. Sound Income Strategies LLC raised its stake in shares of KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of KeyCorp in the 3rd quarter valued at about $28,000. First United Bank & Trust acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $29,000. Finally, Baldwin Brothers LLC MA acquired a new stake in KeyCorp during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Up 0.1 %

KeyCorp stock opened at $13.58 on Thursday. The firm has a 50 day simple moving average of $14.48 and a 200-day simple moving average of $14.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $12.80 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. KeyCorp has a 12-month low of $9.10 and a 12-month high of $15.86.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, equities research analysts expect that KeyCorp will post 1.13 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s payout ratio is 103.80%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KEY. Wells Fargo & Company increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Evercore ISI increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. dropped their price objective on shares of KeyCorp from $18.00 to $17.50 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Royal Bank of Canada increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Argus increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $15.97.

About KeyCorp

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.