Landscape Capital Management L.L.C. Buys Shares of 36,234 KeyCorp $KEY

Landscape Capital Management L.L.C. acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 36,234 shares of the financial services provider’s stock, valued at approximately $835,000.

Other hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of KeyCorp during the 2nd quarter valued at about $30,000. Silvant Capital Management LLC purchased a new stake in KeyCorp in the second quarter worth approximately $30,000. DV Equities LLC bought a new position in KeyCorp during the fourth quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. bought a new position in KeyCorp during the second quarter valued at approximately $31,000. Finally, Smithfield Trust Co purchased a new position in shares of KeyCorp during the fourth quarter worth approximately $31,000. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research reports. TD Cowen reaffirmed a “buy” rating and issued a $68.00 price objective on shares of KeyCorp in a research note on Tuesday, June 23rd. Stephens began coverage on shares of KeyCorp in a research report on Monday, June 15th. They issued an “overweight” rating and a $26.00 target price on the stock. Robert W. Baird boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. UBS Group upped their price target on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company raised their price objective on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Trading Up 0.1%

KEY opened at $21.89 on Monday. 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 52 week low of $16.47 and a 52 week high of $24.07. The stock has a market cap of $23.36 billion, a PE ratio of 12.73, a PEG ratio of 0.72 and a beta of 1.03. The business has a 50 day moving average of $22.91 and a 200-day moving average of $21.79.

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

KeyCorp Dividend Announcement

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

KeyCorp declared that its board has initiated a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 13% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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.