Ancora Advisors LLC Cuts Holdings in KeyCorp (NYSE:KEY)

Ancora Advisors LLC cut its stake in shares of KeyCorp (NYSE:KEY) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,910 shares of the financial services provider’s stock after selling 7,425 shares during the quarter. Ancora Advisors LLC’s holdings in KeyCorp were worth $1,516,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Interval Partners LP raised its holdings in shares of KeyCorp by 31.7% in the 1st quarter. Interval Partners LP now owns 1,444,822 shares of the financial services provider’s stock valued at $22,843,000 after purchasing an additional 347,837 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in KeyCorp by 37.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,473,909 shares of the financial services provider’s stock valued at $39,113,000 after buying an additional 679,290 shares in the last quarter. Earnest Partners LLC lifted its holdings in KeyCorp by 12.7% during the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock worth $159,532,000 after buying an additional 1,137,374 shares during the last quarter. BOKF NA boosted its position in shares of KeyCorp by 4,418.1% during the 1st quarter. BOKF NA now owns 198,075 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 193,691 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of KeyCorp by 13.5% in the 1st quarter. Kestra Advisory Services LLC now owns 897,701 shares of the financial services provider’s stock valued at $14,193,000 after acquiring an additional 106,946 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KEY. JPMorgan Chase & Co. lowered their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Jefferies Financial Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Wedbush upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $16.13.

KeyCorp Stock Performance

Shares of KEY opened at $16.13 on Thursday. KeyCorp has a 1 year low of $9.50 and a 1 year high of $16.50. The stock has a market capitalization of $15.21 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.88 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day moving average is $14.52 and its two-hundred day moving average is $14.61.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.08%. KeyCorp’s dividend payout ratio is currently 103.80%.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.