Stock Yards Bank & Trust Co. Sells 1,875 Shares of KeyCorp (NYSE:KEY)

Stock Yards Bank & Trust Co. reduced its stake in KeyCorp (NYSE:KEY) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,908 shares of the financial services provider’s stock after selling 1,875 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in KeyCorp were worth $539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Valeo Financial Advisors LLC lifted its position in KeyCorp by 1.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 704 shares in the last quarter. Raymond James Trust N.A. lifted its position in KeyCorp by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in KeyCorp by 3.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 742 shares in the last quarter. Czech National Bank lifted its position in KeyCorp by 0.5% in the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after acquiring an additional 788 shares in the last quarter. Finally, CWM LLC lifted its position in KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 837 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KEY shares. DA Davidson boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wedbush boosted their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Evercore ISI cut their price target on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Morgan Stanley boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Performance

NYSE KEY opened at $16.57 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $15.63 billion, a P/E ratio of 20.97, a P/E/G ratio of 0.90 and a beta of 1.25. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.20. The firm has a 50-day moving average price of $15.93 and a two-hundred day moving average price of $15.06.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts anticipate that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

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.