Banque Cantonale Vaudoise Buys Shares of 18,454 KeyCorp (NYSE:KEY)

Key Points

• Banque Cantonale Vaudoise has acquired 18,454 shares of KeyCorp during the 1st quarter, worth approximately $295,000, indicating growing interest in the financial services provider.
• Several institutional investors have increased their stakes in KeyCorp, with Freestone Grove Partners LP leading with a new position valued around $63.5 million.
• KeyCorp's stock recently traded at $17.63, down 1.6%, and the company announced a quarterly dividend of $0.205, representing a yield of 4.7%.

Banque Cantonale Vaudoise bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,454 shares of the financial services provider's stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KEY. Fourth Dimension Wealth LLC acquired a new position in KeyCorp during the fourth quarter valued at $28,000. Allworth Financial LP increased its position in KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after purchasing an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in KeyCorp in the 1st quarter worth about $34,000. NBC Securities Inc. increased its holdings in shares of KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of KeyCorp by 44.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 766 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Trading Up 1.0%

Shares of KeyCorp stock traded up $0.18 during trading on Monday, reaching $17.83. 34,804,241 shares of the stock were exchanged, compared to its average volume of 31,114,096. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of -254.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. The stock's fifty day moving average is $17.22 and its 200 day moving average is $16.47. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm's quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts expect that KeyCorp will post 1.5 earnings per share 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 given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's payout ratio is presently -1,171.43%.

Analysts Set New Price Targets

KEY has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on KeyCorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $18.00 target price for the company. Citigroup reiterated a "neutral" rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. UBS Group upgraded KeyCorp from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Cowen started coverage on KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.39.

Insiders Place Their Bets

In other news, Director Trina M. Evans sold 17,000 shares of the company's 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 sale, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director directly owned 37,177 shares in the company, valued at $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,149 shares of company stock valued at $2,821,230 over the last three months. Insiders own 0.52% 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 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.