Stock Yards Bank & Trust Co. Sells 1,875 Shares of KeyCorp (NYSE:KEY)

Stock Yards Bank & Trust Co. reduced its holdings in KeyCorp (NYSE:KEY) by 4.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 37,908 shares of the financial services provider’s stock after selling 1,875 shares during the period. Stock Yards Bank & Trust Co.’s holdings in KeyCorp were worth $539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KEY. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the 1st quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new position in KeyCorp in the 1st quarter valued at approximately $32,000. Quarry LP acquired a new position in KeyCorp in the 4th quarter valued at approximately $38,000. Fidelis Capital Partners LLC acquired a new position in KeyCorp in the 1st quarter valued at approximately $39,000. Finally, Centerpoint Advisors LLC increased its position in KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 2,107 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. DA Davidson increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, Wedbush increased their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $16.65.

KeyCorp Trading Up 1.8 %

NYSE:KEY opened at $16.57 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.90 and a beta of 1.25. The firm has a fifty day simple moving average of $15.93 and a two-hundred day simple moving average of $15.06. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.20.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company posted $0.27 earnings per share. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was 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.