Banque Cantonale Vaudoise Sells 600 Shares of KeyCorp (NYSE:KEY)

Banque Cantonale Vaudoise lowered its position in KeyCorp (NYSE:KEY) by 2.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,604 shares of the financial services provider’s stock after selling 600 shares during the quarter. Banque Cantonale Vaudoise’s holdings in KeyCorp were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Capital International Investors raised its position in shares of KeyCorp by 2.2% during the first quarter. Capital International Investors now owns 69,994,897 shares of the financial services provider’s stock valued at $1,398,498,000 after buying an additional 1,499,672 shares during the last quarter. LSV Asset Management increased its holdings in KeyCorp by 14.9% in the 2nd quarter. LSV Asset Management now owns 11,400,262 shares of the financial services provider’s stock valued at $235,415,000 after acquiring an additional 1,476,461 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new stake in KeyCorp in the 2nd quarter worth $29,319,000. Royal Bank of Canada boosted its holdings in shares of KeyCorp by 6.7% during the 1st quarter. Royal Bank of Canada now owns 21,212,636 shares of the financial services provider’s stock valued at $423,830,000 after purchasing an additional 1,335,116 shares during the last quarter. Finally, HRT Financial LP purchased a new position in shares of KeyCorp during the first quarter valued at about $25,781,000. 80.49% of the stock is owned by institutional investors.

Shares of KEY opened at $21.14 on Friday. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.87 and a quick ratio of 0.86. KeyCorp has a 1-year low of $11.37 and a 1-year high of $23.65. The company has a 50-day moving average of $20.11 and a 200 day moving average of $20.85.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Monday, July 19th. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.19. KeyCorp had a net margin of 30.87% and a return on equity of 14.21%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that KeyCorp will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, August 30th. KeyCorp’s dividend payout ratio is 58.73%.

A number of equities analysts recently commented on the company. Morgan Stanley dropped their price target on KeyCorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, August 2nd. Royal Bank of Canada increased their target price on KeyCorp from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Odeon Capital Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating and set a $17.73 price target on the stock. in a research note on Monday, July 19th. Citigroup assumed coverage on shares of KeyCorp in a research note on Friday, July 16th. They issued a “hold” rating and a $20.16 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of KeyCorp from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.65.

In other news, insider Jamie Warder sold 3,112 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $19.97, for a total transaction of $62,146.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by corporate insiders.

KeyCorp Company Profile

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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