KeyCorp (KEY) Position Raised by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. increased its holdings in KeyCorp (NYSE:KEY) by 97.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,727,739 shares of the financial services provider’s stock after buying an additional 851,750 shares during the period. KeyCorp accounts for approximately 1.5% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 17th largest holding. Basswood Capital Management L.L.C. owned approximately 0.17% of KeyCorp worth $25,536,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bruderman Asset Management LLC bought a new stake in KeyCorp during the fourth quarter worth about $26,000. First Interstate Bank increased its position in shares of KeyCorp by 853.0% during the 4th quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,834 shares during the last quarter. Lindbrook Capital LLC bought a new position in shares of KeyCorp during the 4th quarter valued at about $41,000. Doyle Wealth Management bought a new position in shares of KeyCorp during the 4th quarter valued at about $42,000. Finally, JOYN Advisors Inc. raised its holdings in shares of KeyCorp by 27.6% during the 4th quarter. JOYN Advisors Inc. now owns 4,031 shares of the financial services provider’s stock valued at $60,000 after buying an additional 871 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

A number of research firms recently weighed in on KEY. CIBC restated an “average” rating on shares of KeyCorp in a research report on Monday, February 4th. Keefe, Bruyette & Woods cut shares of KeyCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 12th. Nomura reissued a “reduce” rating and set a $16.00 price target on shares of KeyCorp in a research note on Monday, December 10th. Scotiabank restated a “buy” rating and issued a $36.00 price objective on shares of KeyCorp in a report on Friday, February 22nd. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. KeyCorp has an average rating of “Hold” and an average target price of $22.74.

In other KeyCorp news, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total value of $72,127.46. Following the sale, the insider now owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $17.37, for a total transaction of $541,353.42. Following the completion of the sale, the insider now directly owns 196,478 shares in the company, valued at approximately $3,412,822.86. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

KEY stock opened at $17.38 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The firm has a market cap of $17.53 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 0.55 and a beta of 1.22.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. KeyCorp had a net margin of 24.74% and a return on equity of 13.26%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.33 EPS. Research analysts expect that KeyCorp will post 1.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Monday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.

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About KeyCorp

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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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