Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in KeyCorp (NYSE:KEY)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of KeyCorp (NYSE:KEY) by 32.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 747,988 shares of the financial services provider’s stock after selling 355,678 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of KeyCorp worth $12,529,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Financial Advocates Investment Management lifted its position in shares of KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares in the last quarter. HM Payson & Co. lifted its holdings in KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after buying an additional 650 shares in the last quarter. Graypoint LLC lifted its holdings in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after buying an additional 675 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in shares of KeyCorp by 2.2% in the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 705 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 0.2 %

Shares of NYSE KEY opened at $19.48 on Friday. The business has a 50-day moving average price of $17.83 and a 200 day moving average price of $16.12. The stock has a market cap of $19.31 billion, a PE ratio of 1,948.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 52-week low of $12.22 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.21%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KEY shares. DA Davidson lifted their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Wells Fargo & Company upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wedbush lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.26.

About KeyCorp

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.