Loeb Partners Corp Sells 10,000 Shares of KeyCorp (KEY)
Loeb Partners Corp decreased its stake in KeyCorp (NYSE:KEY) by 40.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,000 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Loeb Partners Corp’s holdings in KeyCorp were worth $303,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Zions Bancorporation boosted its holdings in KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in KeyCorp during the 3rd quarter valued at $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in KeyCorp during the 3rd quarter valued at $145,000. AllSquare Wealth Management LLC purchased a new position in KeyCorp during the 3rd quarter valued at $173,000. Finally, Connable Office Inc. purchased a new position in KeyCorp during the 3rd quarter valued at $195,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.
KEY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. DA Davidson boosted their price objective on KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley restated an “overweight” rating and set a $23.00 price objective on shares of KeyCorp in a report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Finally, ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $22.07.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same period in the previous year, the company posted $0.31 EPS. equities research analysts predict that KeyCorp will post 1.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
In other news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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