NorthRock Partners LLC Sells 4,287 Shares of KeyCorp (NYSE:KEY)

NorthRock Partners LLC lowered its stake in KeyCorp (NYSE:KEY) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,303 shares of the financial services provider’s stock after selling 4,287 shares during the quarter. NorthRock Partners LLC’s holdings in KeyCorp were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in KEY. Valeo Financial Advisors LLC boosted its holdings in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 704 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in KeyCorp by 6.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 742 shares in the last quarter. Czech National Bank boosted its holdings in KeyCorp by 0.5% in the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after acquiring an additional 788 shares in the last quarter. Finally, CWM LLC boosted its holdings in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after acquiring an additional 837 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price target on shares of KeyCorp in a research note on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Argus boosted their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

KeyCorp Stock Performance

NYSE:KEY traded up $0.29 during mid-day trading on Monday, hitting $15.50. 13,686,452 shares of the company traded hands, compared to its average volume of 14,630,132. The stock’s fifty day moving average price is $14.32 and its 200-day moving average price is $14.48. KeyCorp has a one year low of $9.50 and a one year high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 0.79 and a beta of 1.26.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Research analysts anticipate that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

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.