Contravisory Investment Management Inc. Buys Shares of 30,535 KeyCorp (NYSE:KEY)

Contravisory Investment Management Inc. acquired a new stake in KeyCorp (NYSE:KEY) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,535 shares of the financial services provider’s stock, valued at approximately $483,000.

A number of other large investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares during the last quarter. First United Bank & Trust acquired a new stake in KeyCorp during the 4th quarter valued at approximately $29,000. Baldwin Brothers LLC MA acquired a new stake in KeyCorp during the 4th quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in KeyCorp during the 3rd quarter worth approximately $28,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KEY shares. Evercore ISI upped their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada lifted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Argus upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.97.

KeyCorp Price Performance

KEY stock opened at $13.60 on Monday. The firm has a market cap of $12.82 billion, a P/E ratio of 17.22, a P/E/G ratio of 0.69 and a beta of 1.28. The firm’s fifty day moving average is $14.44 and its 200 day moving average is $14.45. KeyCorp has a 52 week low of $9.10 and a 52 week high of $15.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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 net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Research analysts predict that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a $0.205 dividend. 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 dividend payout ratio is currently 103.80%.

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.