KeyCorp (KEY) Holdings Boosted by Maltese Capital Management LLC

Maltese Capital Management LLC grew its position in shares of KeyCorp (NYSE:KEY) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,520,097 shares of the financial services provider’s stock after buying an additional 93,897 shares during the quarter. KeyCorp accounts for approximately 2.3% of Maltese Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Maltese Capital Management LLC’s holdings in KeyCorp were worth $30,660,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation lifted its position in shares of KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $145,000. AllSquare Wealth Management LLC bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $173,000. Finally, Connable Office Inc. bought a new position in shares of KeyCorp during the 3rd quarter worth approximately $195,000. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KeyCorp (NYSE:KEY) opened at $20.01 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.22. The stock has a market cap of $23,263.27, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.04.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. equities research analysts forecast that KeyCorp will post 1.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.10%. KeyCorp’s payout ratio is 37.50%.

In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the acquisition, the director now directly owns 24,989 shares in the company, valued at $455,549.47. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.

Several equities analysts have commented on the stock. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Sandler O’Neill reissued a “hold” rating and set a $21.50 target price on shares of KeyCorp in a research report on Friday, January 19th. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Citigroup lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.07.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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