Fulton Bank N.A. Sells 1,427 Shares of KeyCorp (NYSE:KEY)

Fulton Bank N.A. lessened its holdings in shares of KeyCorp (NYSE:KEY) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,146 shares of the financial services provider’s stock after selling 1,427 shares during the period. Fulton Bank N.A.’s holdings in KeyCorp were worth $260,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Everence Capital Management Inc. grew its holdings in shares of KeyCorp by 25.3% during the fourth quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 8,330 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of KeyCorp by 23.0% during the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 5,687 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of KeyCorp by 44.6% during the fourth quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,107 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of KeyCorp by 340.0% during the third quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after acquiring an additional 319,155 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of KeyCorp during the third quarter valued at $395,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 2.3 %

NYSE:KEY opened at $16.72 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $16.57 billion, a PE ratio of 1,672.00, a PEG ratio of 1.00 and a beta of 1.27. KeyCorp has a 52-week low of $12.94 and a 52-week high of $20.04. The stock has a 50-day simple moving average of $18.25 and a 200 day simple moving average of $16.83.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KEY. Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Truist Financial initiated coverage on KeyCorp in a research note on Tuesday. They set a “hold” rating and a $19.00 price target on the stock. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI increased their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.44.

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.