KeyCorp (NYSE:KEY) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its stake in KeyCorp (NYSE:KEY) by 43.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,894 shares of the financial services provider’s stock after selling 14,257 shares during the period. SteelPeak Wealth LLC’s holdings in KeyCorp were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new stake in shares of KeyCorp in the 1st quarter worth about $25,000. First United Bank & Trust bought a new position in KeyCorp in the 4th quarter worth about $29,000. Crewe Advisors LLC acquired a new stake in shares of KeyCorp in the first quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $38,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of KeyCorp during the fourth quarter worth approximately $39,000. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the topic of several recent analyst reports. Citigroup lifted their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research note on Tuesday. Argus lifted their target price on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Morgan Stanley lifted their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wedbush lifted their target price on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.59.

KeyCorp Stock Up 0.8 %

Shares of KEY stock traded up $0.13 on Friday, reaching $16.33. 627,608 shares of the company’s stock traded hands, compared to its average volume of 15,092,676. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.09. 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 has a market capitalization of $15.40 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.26. The business’s 50 day moving average price is $14.71 and its two-hundred day moving average price is $14.67.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.02%. KeyCorp’s payout ratio is 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.