MBB Public Markets I LLC Acquires New Holdings in KeyCorp (NYSE:KEY)

MBB Public Markets I LLC bought a new stake in KeyCorp (NYSE:KEY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 69,045 shares of the financial services provider’s stock, valued at approximately $981,000.

Several other large investors have also recently bought and sold shares of KEY. Cambridge Investment Research Advisors Inc. increased its stake in shares of KeyCorp by 15.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 123,736 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 16,625 shares during the period. TD Asset Management Inc boosted its stake in KeyCorp by 7.8% during the 4th quarter. TD Asset Management Inc now owns 385,341 shares of the financial services provider’s stock valued at $5,549,000 after purchasing an additional 27,815 shares in the last quarter. Stifel Financial Corp boosted its stake in KeyCorp by 89.2% during the 4th quarter. Stifel Financial Corp now owns 596,459 shares of the financial services provider’s stock valued at $8,589,000 after purchasing an additional 281,234 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of KeyCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 425,141 shares of the financial services provider’s stock worth $6,122,000 after buying an additional 4,040 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at $262,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY stock opened at $16.75 on Tuesday. The firm has a 50 day simple moving average of $16.15 and a 200 day simple moving average of $15.18. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The stock has a market cap of $15.80 billion, a P/E ratio of 21.20, a P/E/G ratio of 0.93 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s payout ratio is currently 103.80%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on KEY. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research note on Tuesday, August 13th. Morgan Stanley raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $15.00 in a report on Monday, July 8th. Finally, Jefferies Financial Group increased their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.71.

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.