25,991 Shares in KeyCorp $KEY Bought by Callan Family Office LLC

Callan Family Office LLC bought a new stake in KeyCorp (NYSE:KEY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 25,991 shares of the financial services provider’s stock, valued at approximately $599,000.

A number of other large investors have also modified their holdings of the company. DV Equities LLC acquired a new stake in KeyCorp in the fourth quarter worth about $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of KeyCorp during the 2nd quarter worth about $30,000. Silvant Capital Management LLC acquired a new stake in shares of KeyCorp in the 2nd quarter worth approximately $30,000. Smithfield Trust Co acquired a new stake in shares of KeyCorp in the 4th quarter worth approximately $31,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of KeyCorp in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $21.90 on Wednesday. The company has a market capitalization of $23.37 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a fifty day moving average of $22.88 and a 200-day moving average of $21.78. KeyCorp has a one year low of $16.47 and a one year high of $24.07.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. As a group, equities analysts anticipate that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase plan on Wednesday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is currently 47.67%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KEY. Weiss Ratings reiterated a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. Argus upgraded KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Robert W. Baird increased their price target on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on KeyCorp from $22.50 to $24.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Finally, DA Davidson reissued a “buy” rating and issued a $28.00 price objective on shares of KeyCorp in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.