Amy G. Brady Sells 18,000 Shares of KeyCorp (KEY) Stock
KeyCorp (NYSE:KEY) insider Amy G. Brady sold 18,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.42, for a total value of $331,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
KeyCorp (KEY) traded up 0.16% during mid-day trading on Tuesday, hitting $18.35. The company had a trading volume of 8,701,214 shares. The company’s 50 day moving average price is $18.58 and its 200-day moving average price is $18.26. KeyCorp has a one year low of $11.89 and a one year high of $19.53. The company has a market cap of $20.05 billion, a PE ratio of 18.22 and a beta of 1.11.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. KeyCorp’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that KeyCorp will post $1.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, August 25th. KeyCorp’s dividend payout ratio (DPR) is presently 38.78%.
KeyCorp announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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Several large investors have recently made changes to their positions in KEY. Focused Wealth Management Inc boosted its stake in shares of KeyCorp by 613.0% in the first quarter. Focused Wealth Management Inc now owns 5,961 shares of the financial services provider’s stock valued at $106,000 after buying an additional 5,125 shares during the period. Thompson Davis & CO. Inc. boosted its stake in shares of KeyCorp by 20.2% in the first quarter. Thompson Davis & CO. Inc. now owns 6,699 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,125 shares during the period. Cypress Capital Management LLC WY boosted its stake in shares of KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock valued at $132,000 after buying an additional 4,500 shares during the period. CI Investments Inc. acquired a new stake in shares of KeyCorp during the first quarter valued at about $160,000. Finally, Equity Investment Corp Acquisition Inc acquired a new stake in shares of KeyCorp during the first quarter valued at about $179,000. 81.27% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on KEY shares. Instinet reiterated a “buy” rating and issued a $23.00 price objective (up previously from $22.00) on shares of KeyCorp in a research report on Sunday, April 23rd. Nomura reiterated a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Friday, April 21st. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, June 21st. BidaskClub upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, BMO Capital Markets increased their price objective on KeyCorp to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. KeyCorp has an average rating of “Hold” and a consensus price target of $19.78.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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