KeyCorp $KEY Stock Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC more than doubled its KeyCorp stake in the third quarter, adding 63,016 shares to reach 124,552 shares valued at approximately $2.5 million. Institutional investors collectively own 79.69% of KeyCorp.
• KeyCorp reported quarterly earnings of $0.44 per share, exceeding estimates of $0.42, while revenue rose 6.7% year over year to $1.96 billion. The company maintains a quarterly dividend of $0.205 per share, representing a 4.1% annualized yield.
• KeyCorp shares opened at $20.07, within a 52-week range of $16.47 to $24.07. Analysts’ consensus view is “Moderate Buy,” with 2025 ratings ranging from Strong Buy to Hold.

Farther Finance Advisors LLC grew its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 102.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,552 shares of the financial services provider's stock after purchasing an additional 63,016 shares during the period. Farther Finance Advisors LLC's holdings in KeyCorp were worth $2,500,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KEY. N.E.W. Advisory Services LLC purchased a new position in shares of KeyCorp in the 2nd quarter valued at approximately $30,000. Silvant Capital Management LLC purchased a new stake in KeyCorp in the second quarter worth about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in KeyCorp in the second quarter worth about $31,000. Trust Co. of Vermont purchased a new stake in KeyCorp in the second quarter worth about $44,000. Finally, MV Capital Management Inc. bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $42,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

KEY stock opened at $20.07 on Tuesday. The company has a market cap of $21.41 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock's fifty day moving average price is $21.50 and its 200-day moving average price is $21.82.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. KeyCorp's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.2050 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 1st. KeyCorp's dividend payout ratio is currently 47.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KEY. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Jefferies Financial Group cut their price target on KeyCorp from $24.00 to $22.00 and set a "hold" rating on the stock in a research note on Thursday, September 24th. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. Morgan Stanley upped their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Finally, UBS Group cut their price objective on shares of KeyCorp from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.33.

About KeyCorp

KeyCorp NYSE: KEY is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank's offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.