Tower Research Capital LLC TRC raised its stake in KeyCorp (NYSE:KEY) by 1,330.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,168 shares of the financial services provider’s stock after acquiring an additional 23,408 shares during the quarter. Tower Research Capital LLC TRC’s holdings in KeyCorp were worth $449,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Nomura Holdings Inc. acquired a new position in shares of KeyCorp in the second quarter worth $90,666,000. Nuveen Asset Management LLC increased its stake in KeyCorp by 314.4% in the second quarter. Nuveen Asset Management LLC now owns 6,579,555 shares of the financial services provider’s stock valued at $116,787,000 after purchasing an additional 4,991,821 shares during the last quarter. Hamlin Capital Management LLC acquired a new stake in KeyCorp during the second quarter worth about $52,674,000. Hexavest Inc. acquired a new stake in KeyCorp during the second quarter worth about $39,330,000. Finally, Amundi Pioneer Asset Management Inc. increased its stake in KeyCorp by 176.8% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 2,009,043 shares of the financial services provider’s stock worth $214,180,000 after acquiring an additional 1,283,285 shares during the last quarter. 80.94% of the stock is owned by institutional investors.
Several brokerages have commented on KEY. Wedbush upped their price target on KeyCorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Piper Jaffray Companies set a $19.00 price target on KeyCorp and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Deutsche Bank lowered KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Friday, October 25th. UBS Group upped their price target on KeyCorp from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Securities dropped their price target on KeyCorp from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Hold” and an average price target of $24.93.
Shares of KEY opened at $18.97 on Monday. The company has a market capitalization of $18.59 billion, a P/E ratio of 10.97, a P/E/G ratio of 2.58 and a beta of 1.29. KeyCorp has a one year low of $13.65 and a one year high of $19.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. The stock has a 50-day moving average price of $18.06 and a 200 day moving average price of $17.38.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a return on equity of 12.71% and a net margin of 21.93%. KeyCorp’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities research analysts forecast that KeyCorp will post 1.8 earnings per share for the current fiscal year.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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