Toronto Dominion Bank grew its holdings in shares of KeyCorp (NYSE:KEY) by 79.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 867,553 shares of the financial services provider’s stock after buying an additional 384,345 shares during the period. Toronto Dominion Bank owned 0.08% of KeyCorp worth $16,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. We Are One Seven LLC purchased a new stake in KeyCorp during the 4th quarter worth about $183,000. Meridian Wealth Management LLC acquired a new stake in shares of KeyCorp during the first quarter worth about $196,000. Jump Trading LLC acquired a new stake in shares of KeyCorp during the fourth quarter worth about $219,000. Valeo Financial Advisors LLC increased its position in shares of KeyCorp by 136.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 11,108 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 6,419 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new stake in shares of KeyCorp during the fourth quarter worth about $224,000. 80.06% of the stock is owned by institutional investors.
Shares of KeyCorp opened at $20.04 on Friday, Marketbeat.com reports. The stock has a market capitalization of $21.28 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.24 and a beta of 1.05. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.87 and a current ratio of 0.89.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. equities research analysts forecast that KeyCorp will post 1.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, May 25th. This is a boost from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s payout ratio is 30.88%.
In related news, insider Edward J. Burke sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total value of $198,300.00. Following the transaction, the insider now owns 126,526 shares in the company, valued at approximately $2,509,010.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.
A number of analysts have recently commented on KEY shares. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. ValuEngine cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Morgan Stanley lifted their target price on KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 24th. Vining Sparks reiterated a “buy” rating and set a $25.00 target price on shares of KeyCorp in a research report on Friday, April 6th. Finally, Susquehanna Bancshares upgraded KeyCorp from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $24.00 to $25.00 in a research report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.45.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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