19,524 Shares in KeyCorp $KEY Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired 19,524 shares of KeyCorp valued at approximately $312,000 in the 1st quarter, indicating growing institutional interest in the company.
• KeyCorp's recent quarterly earnings showed a profit of $0.35 EPS, surpassing analysts' estimates and reflecting a 20.6% year-over-year revenue increase.
• The firm announced a quarterly dividend of $0.205 per share, providing a dividend yield of 4.3%, with the payout ratio currently at -1,171.43%.

MBB Public Markets I LLC purchased a new stake in KeyCorp (NYSE:KEY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,524 shares of the financial services provider's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after acquiring an additional 3,145 shares during the period. Teacher Retirement System of Texas acquired a new position in KeyCorp in the 1st quarter valued at approximately $2,171,000. Cambridge Investment Research Advisors Inc. increased its position in KeyCorp by 31.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider's stock valued at $1,787,000 after acquiring an additional 26,615 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of KeyCorp by 4.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider's stock valued at $6,068,000 after purchasing an additional 15,367 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of KeyCorp by 41.9% during the first quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider's stock worth $332,000 after buying an additional 6,135 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KEY has been the subject of several recent analyst reports. Citigroup reiterated a "neutral" rating and set a $20.00 price objective (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. TD Cowen initiated coverage on shares of KeyCorp in a research report on Thursday, May 15th. They set a "hold" rating and a $18.00 price objective for the company. Bank of America increased their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Jefferies Financial Group initiated coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, KeyCorp presently has an average rating of "Hold" and a consensus target price of $19.39.

Insider Transactions at KeyCorp

In other news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares of the company's stock, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

KeyCorp Trading Up 0.7%

NYSE:KEY opened at $19.23 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of -274.64, a PEG ratio of 0.67 and a beta of 1.15. The firm has a fifty day simple moving average of $18.45 and a two-hundred day simple moving average of $16.64. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business's quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

About KeyCorp

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.

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