Of Nova Scotia Bank Acquires 50,000 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

KeyCorp Trading Down 0.6 %

Shares of NYSE KEY traded down $0.11 during midday trading on Friday, hitting $17.84. The stock had a trading volume of 13,039,455 shares, compared to its average volume of 13,510,638. The firm has a market cap of $17.68 billion, a P/E ratio of -59.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $17.24.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is -273.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KEY. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Piper Sandler increased their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price target 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. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently bought and sold shares of KEY. Financial Advocates Investment Management grew its position in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after buying an additional 602 shares during the period. Modera Wealth Management LLC grew its holdings in KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares during the period. HM Payson & Co. boosted its position in shares of KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares in the last quarter. Graypoint LLC grew its stake in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 675 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 679 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company 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.