National Bank of Canada FI Raises Holdings in KeyCorp (NYSE:KEY)

National Bank of Canada FI increased its position in shares of KeyCorp (NYSE:KEY) by 142.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 835,268 shares of the financial services provider’s stock after buying an additional 490,372 shares during the period. National Bank of Canada FI’s holdings in KeyCorp were worth $13,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KEY. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after purchasing an additional 993,942 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in KeyCorp by 12.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after buying an additional 2,213,872 shares during the period. Earnest Partners LLC raised its stake in KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after buying an additional 300,339 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after acquiring an additional 222,187 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.42 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The business’s 50 day moving average is $18.10 and its two-hundred day moving average is $16.28. The company has a market capitalization of $18.25 billion, a P/E ratio of 1,841.50, a P/E/G ratio of 1.04 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Barclays increased their price target on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. DA Davidson boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $19.16.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

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.