KeyCorp (NYSE:KEY) Director Sells $710,789.30 in Stock

by · The Markets Daily

KeyCorp (NYSE:KEY – Get Free Report) Director Trina Evans sold 32,695 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

KeyCorp Price Performance

Shares of KeyCorp stock traded down $0.48 during trading on Friday, hitting $21.09. 14,911,443 shares of the stock traded hands, compared to its average volume of 16,388,840. The stock has a market cap of $23.05 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.53 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a 52 week low of $12.73 and a 52 week high of $22.07. The firm’s fifty day moving average is $20.04 and its 200-day moving average is $18.89.

KeyCorp (NYSE:KEY – Get Free Report) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. KeyCorp’s revenue for the quarter was up 131.8% on a year-over-year basis. Research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is presently 53.95%.

Institutional Trading of KeyCorp

Hedge funds have recently modified their holdings of the business. Activest Wealth Management increased its stake in shares of KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares in the last quarter. United Community Bank bought a new position in shares of KeyCorp during the third quarter valued at $27,000. Maseco LLP purchased a new position in shares of KeyCorp in the 4th quarter worth about $27,000. GoalVest Advisory LLC bought a new position in KeyCorp in the 4th quarter worth about $30,000. Finally, Sachetta LLC boosted its stake in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Evercore ISI boosted their price objective on shares of KeyCorp from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Truist Financial increased their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Barclays raised their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Finally, DA Davidson set a $25.00 price objective on KeyCorp in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.63.

Check Out Our Latest Report on KeyCorp

KeyCorp Company Profile

(Get Free Report)

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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