Traders Sell Shares of KeyCorp (KEY) on Strength (KEY)
Investors sold shares of KeyCorp (NYSE:KEY) on strength during trading hours on Wednesday. $20.56 million flowed into the stock on the tick-up and $39.42 million flowed out of the stock on the tick-down, for a money net flow of $18.86 million out of the stock. Of all equities tracked, KeyCorp had the 0th highest net out-flow for the day. KeyCorp traded up $0.02 for the day and closed at $12.19
A number of research firms have issued reports on KEY. Nomura upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 1st. Vetr downgraded shares of KeyCorp from a “strong-buy” rating to a “buy” rating and set a $13.77 target price for the company. in a research report on Tuesday, May 24th. FBR & Co reiterated a “hold” rating on shares of KeyCorp in a research report on Saturday, April 23rd. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of KeyCorp in a research report on Monday, July 25th. They issued an “overweight” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. KeyCorp presently has a consensus rating of “Buy” and a consensus price target of $14.49.
The stock has a market capitalization of $13.19 billion and a PE ratio of 12.61. The stock’s 50-day moving average is $11.62 and its 200 day moving average is $11.57.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. During the same period last year, the company posted $0.27 earnings per share. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. The business’s revenue was down .1% compared to the same quarter last year. On average, analysts predict that KeyCorp will post $1.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, July 29th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, July 27th.
In other news, Director Charles P. Cooley purchased 5,000 shares of the company’s 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 transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $310,250. The transaction was disclosed in a filing with the SEC, which is available through this link.
A number of hedge funds have recently bought and sold shares of KEY. BlackRock Advisors LLC raised its stake in KeyCorp by 12.5% in the fourth quarter. BlackRock Advisors LLC now owns 3,486,192 shares of the financial services provider’s stock valued at $45,983,000 after buying an additional 388,049 shares during the period. Airain ltd purchased a new stake in KeyCorp during the fourth quarter valued at about $7,788,000. State of Tennessee Treasury Department increased its position in 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 valued at $6,712,000 after buying an additional 98,959 shares in the last quarter. Dimensional Fund Advisors LP increased its position in 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 valued at $71,058,000 after buying an additional 97,018 shares in the last quarter. Finally, I.G. Investment Management LTD. increased its position in 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 valued at $4,338,000 after buying an additional 32,066 shares in 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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