Bryn Mawr Trust Advisors LLC Invests $573,000 in KeyCorp $KEY

Bryn Mawr Trust Advisors LLC acquired a new stake in KeyCorp (NYSE:KEY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,876 shares of the financial services provider’s stock, valued at approximately $573,000.

Several other large investors have also bought and sold shares of the company. MCF Advisors LLC lifted its holdings in KeyCorp by 31.6% in the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 456 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 508 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of KeyCorp by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 522 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of KeyCorp by 3.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 15,082 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 547 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of KeyCorp by 1.7% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 556 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY opened at $23.30 on Friday. The firm has a market capitalization of $24.87 billion, a P/E ratio of 13.55, a PEG ratio of 0.75 and a beta of 1.03. The stock has a fifty day moving average of $22.89 and a 200-day moving average of $21.76. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.KeyCorp’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.205 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.5%. KeyCorp’s dividend payout ratio is currently 47.67%.

KeyCorp announced that its board has approved a stock repurchase program on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 13% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. Truist Financial raised their target price on shares of KeyCorp from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Piper Sandler upped their price target on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. UBS Group increased their price objective on KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on KeyCorp from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.14.

About KeyCorp

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.