KeyCorp (NYSE:KEY) Stock Position Decreased by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its stake in shares of KeyCorp (NYSE:KEY) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,709 shares of the financial services provider’s stock after selling 5,496 shares during the period. KeyCorp makes up about 1.7% of Palouse Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Palouse Capital Management Inc.’s holdings in KeyCorp were worth $2,568,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the 1st quarter worth approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp in the first quarter valued at $32,000. Quarry LP acquired a new stake in shares of KeyCorp in the fourth quarter worth $38,000. Fidelis Capital Partners LLC purchased a new position in shares of KeyCorp during the first quarter valued at $39,000. Finally, Centerpoint Advisors LLC grew its holdings in shares of KeyCorp by 127.7% during the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after buying an additional 2,107 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KEY. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI dropped their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Morgan Stanley lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Wedbush boosted their price target on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.65.

KeyCorp Trading Up 0.2 %

Shares of KEY stock opened at $16.60 on Thursday. The business’s 50 day moving average is $15.97 and its two-hundred day moving average is $15.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.20. The company has a market cap of $15.65 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.94%. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp 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 transaction, 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 is accessible through this link. 0.61% of the stock is owned by corporate insiders.

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.