Interval Partners LP Buys 347,837 Shares of KeyCorp (NYSE:KEY)

Interval Partners LP increased its stake in shares of KeyCorp (NYSE:KEY) by 31.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,444,822 shares of the financial services provider’s stock after purchasing an additional 347,837 shares during the quarter. Interval Partners LP owned about 0.15% of KeyCorp worth $22,843,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First United Bank & Trust bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $29,000. Crewe Advisors LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $38,000. Turtle Creek Wealth Advisors LLC bought a new position in KeyCorp in the fourth quarter valued at approximately $39,000. Finally, Criterion Capital Advisors LLC bought a new position in KeyCorp in the fourth quarter valued at approximately $39,000. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. DA Davidson raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Monday, July 8th. Royal Bank of Canada raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Argus raised their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

KeyCorp Stock Up 0.2 %

Shares of NYSE:KEY traded up $0.04 during midday trading on Tuesday, reaching $16.25. 12,139,790 shares of the company were exchanged, compared to its average volume of 14,886,282. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $16.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a fifty day simple moving average of $14.48 and a two-hundred day simple moving average of $14.58. The firm has a market cap of $15.32 billion, a PE ratio of 20.63, a P/E/G ratio of 0.89 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business posted $0.27 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 5.05%. KeyCorp’s payout ratio is currently 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.