Janney Montgomery Scott LLC Acquires 29,652 Shares of KeyCorp $KEY

Janney Montgomery Scott LLC lifted its holdings in shares of KeyCorp (NYSE:KEY) by 17.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 195,914 shares of the financial services provider’s stock after purchasing an additional 29,652 shares during the period. Janney Montgomery Scott LLC’s holdings in KeyCorp were worth $3,413,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tompkins Financial Corp bought a new stake in shares of KeyCorp during the second quarter worth $26,000. Zions Bancorporation National Association UT bought a new stake in shares of KeyCorp during the first quarter worth $28,000. FSC Wealth Advisors LLC bought a new stake in shares of KeyCorp during the first quarter worth $34,000. Allworth Financial LP grew its holdings in shares of KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,543 shares during the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of KeyCorp by 123,900.0% during the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 2,478 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on KEY shares. Citigroup restated a “neutral” rating and set a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Bank of America raised their price target on KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, June 16th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. TD Cowen raised their price target on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Finally, Truist Financial raised their price target on KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a report on Monday, July 28th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.53.

KeyCorp Trading Down 1.8%

NYSE:KEY opened at $18.08 on Thursday. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The business’s 50-day moving average price is $18.58 and its two-hundred day moving average price is $17.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of -258.29, a PEG ratio of 0.64 and a beta of 1.15.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.5%. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

Insider Transactions at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,102 shares of company stock valued at $3,299,664 over the last 90 days. 0.52% of the stock is owned by company insiders.

About KeyCorp

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.