Register Financial Advisors LLC Acquires Shares of 30,232 KeyCorp $KEY

Key Points

• Register Financial Advisors LLC acquired 30,232 shares of KeyCorp during Q2, valued at approximately $527,000, highlighting increased institutional interest in the financial services provider.
• KeyCorp recently announced a quarterly dividend of $0.205 per share, which translates to an annualized yield of 4.4%, despite a significant negative payout ratio.
• Wall Street analysts have mixed ratings on KeyCorp, with ten analysts giving a Buy rating and a consensus price target of $19.58 for the stock.

Register Financial Advisors LLC bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,232 shares of the financial services provider's stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KEY. Tompkins Financial Corp purchased a new stake in KeyCorp during the 2nd quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of KeyCorp during the first quarter worth approximately $28,000. Allworth Financial LP grew its position in shares of KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after buying an additional 1,543 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of KeyCorp in the first quarter worth $34,000. Finally, NBC Securities Inc. raised its holdings in KeyCorp by 123,900.0% in the first 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 in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KEY shares. Robert W. Baird lowered shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective for the company. in a report on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Bank of America upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, June 16th. DA Davidson increased their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group lowered their price target on KeyCorp from $21.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.58.

KeyCorp Trading Up 0.1%

Shares of NYSE KEY opened at $18.80 on Friday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a market cap of $20.61 billion, a price-to-earnings ratio of -268.50, a price-to-earnings-growth ratio of 0.66 and a beta of 1.15. 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's 50 day simple moving average is $18.57 and its 200 day simple moving average is $16.83.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm's revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Equities research analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp's payout ratio is presently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Paine III sold 44,953 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider owned 245,044 shares of the company's stock, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,102 shares of company stock worth $3,299,664. 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.

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