BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Holdings in KeyCorp $KEY

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in KeyCorp by 1.9%, acquiring an additional 87,475 shares, bringing its total ownership to approximately $73.15 million.
• KeyCorp reported earnings of $0.35 per share for the latest quarter, exceeding analyst expectations, and indicated a 20.6% revenue increase year-over-year.
• The company's stock has faced mixed ratings from analysts, with twelve analysts rating it as "Hold" and ten giving it a "Buy" rating, while the average price target is set at $19.39.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,574,730 shares of the financial services provider's stock after purchasing an additional 87,475 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.42% of KeyCorp worth $73,149,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Fourth Dimension Wealth LLC purchased a new stake in KeyCorp during the 4th quarter worth about $28,000. Zions Bancorporation National Association UT purchased a new stake in KeyCorp during the 1st quarter worth about $28,000. Allworth Financial LP lifted its holdings in KeyCorp by 246.9% during 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 in the last quarter. FSC Wealth Advisors LLC purchased a new stake in KeyCorp during the 1st quarter worth about $34,000. Finally, NBC Securities Inc. lifted its holdings in KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after purchasing an additional 2,478 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

NYSE KEY traded up $0.0850 during trading on Wednesday, reaching $18.2350. The company's stock had a trading volume of 27,083,934 shares, compared to its average volume of 31,475,748. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $20.00 billion, a PE ratio of -260.50, a P/E/G ratio of 0.64 and a beta of 1.13. The firm has a fifty day moving average of $17.71 and a 200 day moving average of $16.50. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

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

KeyCorp Announces Dividend

The company 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 dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.5%. KeyCorp's dividend payout ratio is -1,171.43%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. Citigroup reissued a "neutral" rating and set a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Bank of America upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Wells Fargo & Company upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Cowen started coverage on KeyCorp in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, Truist Financial upped their target price on KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, July 28th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.39.

Insider Activity

In other news, Director Trina M. Evans sold 17,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the transaction, the insider owned 82,523 shares in the company, valued at $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,149 shares of company stock worth $2,738,230. 0.52% of the stock is currently owned by insiders.

KeyCorp 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.