Ruth Ann M. Gillis Acquires 2,000 Shares of KeyCorp (KEY) Stock
KeyCorp (NYSE:KEY) Director Ruth Ann M. Gillis acquired 2,000 shares of KeyCorp stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $17.91 per share, with a total value of $35,820.00. Following the completion of the purchase, the director now directly owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of KeyCorp (KEY) traded up 0.39% during mid-day trading on Wednesday, hitting $17.98. The stock had a trading volume of 15,221,040 shares. The firm has a market capitalization of $19.55 billion, a PE ratio of 17.86 and a beta of 1.11. KeyCorp has a 1-year low of $11.89 and a 1-year high of $19.53. The stock’s 50-day moving average is $18.49 and its 200-day moving average is $18.26.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Equities analysts expect that KeyCorp will post $1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be paid a $0.095 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a yield of 2.11%. KeyCorp’s dividend payout ratio is currently 38.78%.
KeyCorp declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
KEY has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, June 21st. Morgan Stanley restated an “overweight” rating and issued a $22.00 price objective (up from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. BidaskClub cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG restated a “hold” rating on shares of KeyCorp in a research note on Monday, July 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $22.00 price objective on shares of KeyCorp in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.74.
Institutional investors have recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its position in shares of KeyCorp by 447.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,182,062 shares of the financial services provider’s stock valued at $21,040,000 after buying an additional 966,000 shares during the period. Trust Co. of Toledo NA OH raised its position in shares of KeyCorp by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 42,951 shares of the financial services provider’s stock valued at $805,000 after buying an additional 178 shares during the period. James Investment Research Inc. raised its position in shares of KeyCorp by 1.3% in the first quarter. James Investment Research Inc. now owns 1,077,660 shares of the financial services provider’s stock valued at $19,161,000 after buying an additional 14,300 shares during the period. Bollard Group LLC raised its position in shares of KeyCorp by 5.8% in the first quarter. Bollard Group LLC now owns 121,204 shares of the financial services provider’s stock valued at $2,155,000 after buying an additional 6,610 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of KeyCorp by 62.1% in the second quarter. State of Alaska Department of Revenue now owns 68,512 shares of the financial services provider’s stock valued at $1,283,000 after buying an additional 26,248 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.
KeyCorp Company Profile
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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