Loeb Partners Corp Reduces Position in KeyCorp (KEY)

Loeb Partners Corp lessened its stake in shares of KeyCorp (NYSE:KEY) by 50.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,000 shares of the financial services provider’s stock after selling 15,000 shares during the period. Loeb Partners Corp’s holdings in KeyCorp were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in KeyCorp by 8,462.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 6,093 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in KeyCorp by 408.3% during the 3rd quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 5,104 shares in the last quarter. Zions Bancorporation bought a new stake in KeyCorp during the 3rd quarter valued at $138,000. Smithfield Trust Co. increased its stake in KeyCorp by 89.8% during the 3rd quarter. Smithfield Trust Co. now owns 8,537 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 4,040 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in KeyCorp during the 2nd quarter valued at $173,000. Institutional investors own 79.35% of the company’s stock.

KEY has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Nomura reiterated a “neutral” rating and issued a $18.00 target price (down previously from $20.00) on shares of KeyCorp in a research note on Tuesday, November 13th. BMO Capital Markets reduced their target price on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Wedbush set a $23.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a research note on Thursday, September 13th. Finally, Standpoint Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Buy” and an average price target of $23.17.

In other KeyCorp news, Director Carlton L. Highsmith sold 6,963 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $18.37, for a total transaction of $127,910.31. Following the sale, the director now directly owns 68,088 shares of the company’s stock, valued at $1,250,776.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Beth E. Mooney acquired 10,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average cost of $18.26 per share, for a total transaction of $182,600.00. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Shares of NYSE:KEY opened at $18.05 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $18.67 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.67 and a beta of 1.00. KeyCorp has a fifty-two week low of $16.48 and a fifty-two week high of $22.40.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts expect that KeyCorp will post 1.73 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 27th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Monday, November 26th. KeyCorp’s dividend payout ratio (DPR) is presently 50.00%.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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