KeyCorp (NYSE:KEY) Insider Amy G. Brady Sells 18,000 Shares
KeyCorp (NYSE:KEY) insider Amy G. Brady sold 18,000 shares of KeyCorp stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $18.42, for a total value of $331,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
KeyCorp (NYSE:KEY) opened at 18.35 on Wednesday. The company has a 50 day moving average price of $18.58 and a 200-day moving average price of $18.26. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 18.22 and a beta of 1.11. KeyCorp has a 1-year low of $11.89 and a 1-year high of $19.53.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.27 EPS. KeyCorp’s revenue for the quarter was up 52.1% compared to the same quarter last year. On average, analysts forecast that KeyCorp will post $1.36 EPS for the current fiscal year.
KeyCorp declared that its board has initiated a stock 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 purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 annualized dividend and a yield of 2.07%. KeyCorp’s payout ratio is 38.78%.
A number of research analysts have issued reports on the company. BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research report on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of KeyCorp in a research report on Saturday, July 22nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $20.50 target price on shares of KeyCorp in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. KeyCorp currently has an average rating of “Hold” and an average target price of $19.78.
Institutional investors have recently bought and sold shares of the company. Focused Wealth Management Inc raised its position in 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 last quarter. Thompson Davis & CO. Inc. raised 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 worth $119,000 after buying an additional 1,125 shares in the last quarter. Cypress Capital Management LLC WY raised 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 worth $132,000 after buying an additional 4,500 shares in the last quarter. CI Investments Inc. acquired a new stake in shares of KeyCorp during the first quarter worth $160,000. Finally, Equity Investment Corp Acquisition Inc acquired a new stake in shares of KeyCorp during the first quarter worth $179,000. Institutional investors and hedge funds own 81.27% of the company’s stock.
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.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.