AT Bancorp Boosts Position in KeyCorp (KEY)

AT Bancorp lifted its position in shares of KeyCorp (NYSE:KEY) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,095 shares of the financial services provider’s stock after acquiring an additional 7,455 shares during the period. AT Bancorp’s holdings in KeyCorp were worth $2,055,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp raised its position in shares of KeyCorp by 5.6% during the 4th quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock valued at $1,754,000 after acquiring an additional 4,576 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in KeyCorp by 4.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock worth $4,855,000 after buying an additional 10,948 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in KeyCorp during the 4th quarter worth $971,000. Patten & Patten Inc. TN grew its stake in KeyCorp by 125.9% during the 4th quarter. Patten & Patten Inc. TN now owns 606,197 shares of the financial services provider’s stock worth $12,227,000 after buying an additional 337,842 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in KeyCorp by 136.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 11,108 shares of the financial services provider’s stock worth $224,000 after buying an additional 6,419 shares during the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp opened at $20.64 on Friday, Marketbeat Ratings reports. KeyCorp has a 1 year low of $20.31 and a 1 year high of $20.51. The firm has a market capitalization of $21.73 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. sell-side analysts predict that KeyCorp will post 1.7 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th will be paid a $0.12 dividend. This is a boost from KeyCorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 25th. This represents a $0.48 annualized dividend and a dividend yield of 2.33%. KeyCorp’s dividend payout ratio is presently 30.88%.

A number of research analysts recently commented on the company. Deutsche Bank upgraded KeyCorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $24.00 in a research note on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Sandler O’Neill restated a “hold” rating and set a $21.50 price objective on shares of KeyCorp in a research note on Friday, January 19th. DA Davidson upped their price objective on KeyCorp to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Vining Sparks restated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $22.45.

In other news, insider Robert A. Deangelis sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total value of $527,750.00. Following the completion of the sale, the insider now owns 175,053 shares in the company, valued at $3,695,368.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward J. Burke sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total value of $198,300.00. Following the completion of the sale, the insider now owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

KeyCorp Company Profile

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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