Marcum Wealth LLC Purchases 1,163 Shares of KeyCorp (NYSE:KEY)

Marcum Wealth LLC grew its position in KeyCorp (NYSE:KEY) by 3.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,378 shares of the financial services provider’s stock after buying an additional 1,163 shares during the period. Marcum Wealth LLC’s holdings in KeyCorp were worth $607,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in 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 worth $27,000 after purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the 3rd quarter worth approximately $28,000. First United Bank & Trust acquired a new stake in KeyCorp in the 4th quarter worth approximately $29,000. Finally, Baldwin Brothers LLC MA acquired a new stake in KeyCorp in the 4th quarter worth approximately $35,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Down 0.3 %

Shares of NYSE:KEY opened at $13.60 on Friday. 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 firm has a market capitalization of $12.82 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The firm’s 50-day moving average is $14.44 and its two-hundred day moving average is $14.43. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) 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 analysts’ expectations of $1.51 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.03%. KeyCorp’s payout ratio is 103.80%.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of recent research reports. Royal Bank of Canada raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $18.00 to $17.50 and set a “neutral” rating for the company in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $15.97.

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.