D L Carlson Investment Group Inc. Makes New $3.61 Million Investment in KeyCorp $KEY

D L Carlson Investment Group Inc. purchased a new position in shares of KeyCorp (NYSE:KEY) during the second quarter, Holdings Channel reports. The institutional investor purchased 156,479 shares of the financial services provider’s stock, valued at approximately $3,607,000.

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC raised its holdings in shares of KeyCorp by 31.6% in the fourth 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 in the last quarter. Harbour Investments Inc. grew its holdings in KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 508 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 522 shares during the period. J.W. Cole Advisors Inc. increased its position in KeyCorp by 3.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 15,082 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 547 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its position 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 during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KEY shares. DA Davidson reissued a “buy” rating and issued a $28.00 price objective on shares of KeyCorp in a research note on Wednesday, July 22nd. Susquehanna lifted their price target on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. TD Cowen restated a “buy” rating and set a $68.00 price objective on shares of KeyCorp in a research note on Tuesday, June 23rd. Finally, UBS Group raised 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.14.

KeyCorp Trading Down 1.0%

KeyCorp stock opened at $21.88 on Friday. The stock has a 50-day moving average of $22.92 and a two-hundred day moving average of $21.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The stock has a market cap of $23.35 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03.

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, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.205 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

KeyCorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 13% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

KeyCorp Company Profile

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.