KeyCorp (NYSE:KEY) Shares Sold by Emprise Bank

Emprise Bank trimmed its holdings in KeyCorp (NYSE:KEY) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,007 shares of the financial services provider’s stock after selling 2,481 shares during the quarter. Emprise Bank’s holdings in KeyCorp were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of KeyCorp by 15.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 123,736 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 16,625 shares in the last quarter. TD Asset Management Inc raised its stake in shares of KeyCorp by 7.8% during the fourth 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 lifted its holdings in KeyCorp by 89.2% in the fourth quarter. Stifel Financial Corp now owns 596,459 shares of the financial services provider’s stock worth $8,589,000 after purchasing an additional 281,234 shares during the period. KBC Group NV grew its position in KeyCorp by 71.1% in the 4th quarter. KBC Group NV now owns 78,896 shares of the financial services provider’s stock valued at $1,136,000 after buying an additional 32,785 shares in the last quarter. Finally, NEOS Investment Management LLC acquired a new position in KeyCorp during the 4th quarter valued at about $191,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction dated 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 directly 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 can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Price Performance

KEY stock opened at $16.21 on Thursday. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The firm has a 50-day moving average of $16.17 and a two-hundred day moving average of $15.20. The firm has a market capitalization of $15.28 billion, a PE ratio of 20.52, a P/E/G ratio of 0.93 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

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

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.06%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analysts Set New Price Targets

KEY has been the subject of a number of research analyst reports. DA Davidson upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. Evercore ISI increased their price target on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.91.

KeyCorp 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.