Pinnacle Wealth Planning Services Inc. boosted its stake in KeyCorp (NYSE:KEY) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,167 shares of the financial services provider’s stock after acquiring an additional 1,409 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in KeyCorp were worth $246,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Howard Wealth Management LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at about $26,000. Thor Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter valued at about $34,000. Manchester Financial Inc. acquired a new position in shares of KeyCorp during the fourth quarter worth about $53,000. Bartlett & Co. LLC acquired a new position in shares of KeyCorp during the third quarter worth about $55,000. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of KeyCorp during the third quarter worth about $65,000. 80.06% of the stock is owned by hedge funds and other institutional investors.
KEY has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on shares of KeyCorp in a research note on Wednesday, November 20th. They set a “buy” rating and a $21.00 price target on the stock. Deutsche Bank lowered shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Friday, October 25th. Wedbush upgraded shares of KeyCorp from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $23.00 in a research note on Friday, December 20th. Wells Fargo & Co lowered shares of KeyCorp from an “equal weight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research note on Monday, January 6th. Finally, DA Davidson reiterated a “buy” rating on shares of KeyCorp in a research note on Monday, November 18th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.71.
KEY traded up $0.01 on Monday, hitting $19.73. 6,350,455 shares of the company were exchanged, compared to its average volume of 9,262,578. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.90. The business’s fifty day moving average is $19.58 and its 200 day moving average is $18.45. KeyCorp has a fifty-two week low of $14.82 and a fifty-two week high of $20.52. The firm has a market capitalization of $19.43 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.84 and a beta of 1.32.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. KeyCorp had a net margin of 22.06% and a return on equity of 12.54%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. Analysts forecast that KeyCorp will post 1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.74 annualized dividend and a dividend yield of 3.75%. KeyCorp’s dividend payout ratio is presently 41.11%.
KeyCorp Company Profile
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.
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