Of Nova Scotia Bank Purchases 50,000 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

KeyCorp Trading Down 0.6 %

KEY stock opened at $17.84 on Friday. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The stock has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $17.24.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Institutional Trading of KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Advocates Investment Management increased its holdings in shares of KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares during the period. Modera Wealth Management LLC increased its stake in KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 627 shares during the last quarter. HM Payson & Co. raised its holdings in shares of KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC raised its holdings in shares of KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 675 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 679 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KEY. DA Davidson decreased their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Morgan Stanley decreased their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Truist Financial assumed coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $19.69.

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.