Czech National Bank Increases Stock Holdings in KeyCorp (NYSE:KEY)

Czech National Bank increased its holdings in shares of KeyCorp (NYSE:KEY) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,067 shares of the financial services provider’s stock after buying an additional 9,397 shares during the quarter. Czech National Bank’s holdings in KeyCorp were worth $3,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC acquired a new stake in shares of KeyCorp in the first quarter worth approximately $561,000. Assenagon Asset Management S.A. grew its stake in shares of KeyCorp by 87.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after buying an additional 610,688 shares during the period. Commerce Bank grew its stake in shares of KeyCorp by 399.7% during the 1st quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after buying an additional 364,850 shares during the period. Seven Eight Capital LP purchased a new position in shares of KeyCorp in the 4th quarter worth $801,000. Finally, MBB Public Markets I LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth $981,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Price Performance

Shares of NYSE KEY opened at $16.77 on Tuesday. 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 fifty-two week low of $9.50 and a fifty-two week high of $17.39. The business has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $15.23. The firm has a market cap of $15.81 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts expect that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company 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 was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.89%. KeyCorp’s payout ratio is 103.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Citigroup raised their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.91.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were 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 in the company, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently 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.