WP Advisors LLC purchased a new stake in KeyCorp (NYSE:KEY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,507 shares of the financial services provider’s stock, valued at approximately $102,000.
A number of other institutional investors and hedge funds have also bought and sold shares of KEY. American Asset Management Inc. acquired a new position in KeyCorp in the 1st quarter valued at $185,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in KeyCorp in the 1st quarter valued at $645,000. Scout Investments Inc. grew its holdings in KeyCorp by 29.6% in the 1st quarter. Scout Investments Inc. now owns 2,255,557 shares of the financial services provider’s stock valued at $35,525,000 after buying an additional 515,360 shares in the last quarter. Virtu Financial LLC acquired a new position in KeyCorp in the 1st quarter valued at $571,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in KeyCorp in the 1st quarter valued at $12,909,000. Institutional investors and hedge funds own 81.93% of the company’s stock.
A number of research analysts have commented on KEY shares. BMO Capital Markets lowered KeyCorp from an “outperform” rating to a “market perform” rating and set a $17.00 price objective on the stock. in a report on Friday, January 18th. Wedbush lowered KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 target price on the stock. in a report on Monday, February 4th. They noted that the move was a valuation call. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Sandler O’Neill raised KeyCorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $16.50 to $19.00 in a report on Friday, January 11th. Finally, Barclays reduced their target price on KeyCorp from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.46.
Shares of NYSE:KEY traded down $0.25 during mid-day trading on Monday, hitting $16.63. 4,945,900 shares of the company traded hands, compared to its average volume of 16,628,507. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.14 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.97. KeyCorp has a 12-month low of $13.65 and a 12-month high of $21.91.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. During the same period last year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that KeyCorp will post 1.84 earnings per share for the current year.
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.
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