KeyCorp (KEY) Sees Large Volume Increase
KeyCorp (NYSE:KEY) shares saw unusually-strong trading volume on Friday . Approximately 76,777,514 shares traded hands during mid-day trading, an increase of 350% from the previous session’s volume of 17,071,912 shares.The stock last traded at $11.70 and had previously closed at $11.65.
A number of equities research analysts have weighed in on KEY shares. Credit Suisse Group AG restated a “buy” rating on shares of KeyCorp in a research report on Monday, July 11th. Wells Fargo & Co. restated a “hold” rating on shares of KeyCorp in a research report on Saturday, July 9th. Morgan Stanley started coverage on KeyCorp in a research report on Tuesday, April 12th. They issued an “equal weight” rating and a $13.50 target price for the company. Zacks Investment Research upgraded KeyCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Nomura restated a “buy” rating and issued a $12.00 target price on shares of KeyCorp in a research report on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $14.49.
The firm has a market capitalization of $9.86 billion and a PE ratio of 12.10. The stock has a 50 day moving average price of $11.45 and a 200 day moving average price of $11.51.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business posted $0.27 earnings per share. KeyCorp’s revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post $1.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, July 29th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.34 dividend on an annualized basis and a yield of 2.91%.
In other KeyCorp news, Director Charles P. Cooley acquired 5,000 shares of KeyCorp stock in a transaction on Monday, May 23rd. The shares were purchased at an average cost of $12.41 per share, with a total value of $62,050.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at $310,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexander M. Cutler acquired 15,000 shares of KeyCorp stock in a transaction on Monday, May 16th. The stock was acquired at an average cost of $11.86 per share, for a total transaction of $177,900.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $593,000. The disclosure for this purchase can be found here.
A number of institutional investors have made changes to their positions in the stock. BlackRock Advisors LLC boosted its position in shares of KeyCorp by 12.5% in the fourth quarter. BlackRock Advisors LLC now owns 3,486,192 shares of the financial services provider’s stock worth $45,983,000 after buying an additional 388,049 shares during the last quarter. Airain ltd acquired a new position in shares of KeyCorp during the fourth quarter worth about $7,788,000. State of Tennessee Treasury Department boosted its position in shares of KeyCorp by 24.1% in the fourth quarter. State of Tennessee Treasury Department now owns 508,891 shares of the financial services provider’s stock worth $6,712,000 after buying an additional 98,959 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of KeyCorp by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,387,069 shares of the financial services provider’s stock worth $71,058,000 after buying an additional 97,018 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its position in shares of KeyCorp by 10.8% in the fourth quarter. I.G. Investment Management LTD. now owns 328,922 shares of the financial services provider’s stock worth $4,338,000 after buying an additional 32,066 shares during the last quarter.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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