BB&T Corp lowered its stake in shares of KeyCorp (NYSE:KEY) by 41.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,603 shares of the financial services provider’s stock after selling 53,544 shares during the period. BB&T Corp’s holdings in KeyCorp were worth $920,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in KeyCorp by 31.1% in the first quarter. Envestnet Asset Management Inc. now owns 151,554 shares of the financial services provider’s stock valued at $1,673,000 after buying an additional 35,976 shares during the last quarter. LPL Financial LLC raised its stake in KeyCorp by 26.0% in the first quarter. LPL Financial LLC now owns 86,305 shares of the financial services provider’s stock valued at $932,000 after buying an additional 17,827 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in KeyCorp during the first quarter valued at $2,031,000. Park National Corp OH raised its stake in KeyCorp by 16.3% in the second quarter. Park National Corp OH now owns 64,747 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,070 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in KeyCorp by 7.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 218,048 shares of the financial services provider’s stock valued at $2,409,000 after buying an additional 14,598 shares during the last quarter. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Shares of KeyCorp (NYSE:KEY) traded down 0.60% during midday trading on Friday, reaching $17.33. 6,134,531 shares of the company’s stock traded hands. The firm has a market capitalization of $18.73 billion, a P/E ratio of 19.97 and a beta of 1.00. The stock’s 50 day moving average price is $14.56 and its 200 day moving average price is $12.65. KeyCorp has a 52-week low of $9.88 and a 52-week high of $17.57.
KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business earned $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. KeyCorp’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities research analysts anticipate that KeyCorp will post $1.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 29th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.96%. KeyCorp’s payout ratio is 39.08%.
KEY has been the subject of several recent research reports. Zacks Investment Research upgraded shares of KeyCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Citigroup Inc. boosted their price target on shares of KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 22nd. Piper Jaffray Cos. downgraded shares of KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.50 to $13.00 in a report on Monday, August 29th. Wedbush started coverage on shares of KeyCorp in a report on Thursday, October 6th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of KeyCorp in a report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. KeyCorp presently has a consensus rating of “Buy” and a consensus price target of $14.84.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.