Montag A & Associates Inc. Cuts Stock Position in KeyCorp (NYSE:KEY)

Montag A & Associates Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 16.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,420 shares of the financial services provider’s stock after selling 8,749 shares during the quarter. Montag A & Associates Inc.’s holdings in KeyCorp were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Valeo Financial Advisors LLC lifted its position in shares of KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 704 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of KeyCorp by 6.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after buying an additional 732 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its position in KeyCorp by 3.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 742 shares during the last quarter. Czech National Bank grew its stake in KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after acquiring an additional 788 shares in the last quarter. Finally, CWM LLC raised its holdings in KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KEY. Evercore ISI dropped their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. lowered their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Argus increased their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.24.

KeyCorp Stock Performance

Shares of NYSE:KEY traded up $0.34 during midday trading on Monday, hitting $15.55. The stock had a trading volume of 5,381,782 shares, compared to its average volume of 14,562,171. The company has a market capitalization of $14.66 billion, a PE ratio of 19.70, a P/E/G ratio of 0.79 and a beta of 1.26. KeyCorp has a 1 year low of $9.50 and a 1 year high of $15.86. The stock has a 50 day moving average price of $14.32 and a two-hundred day moving average price of $14.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm posted $0.44 EPS. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities analysts predict that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

KeyCorp 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.