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

KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $17.84 on Monday. The firm has a 50 day simple moving average of $17.71 and a 200 day simple moving average of $17.27. 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 firm has a market cap of $17.68 billion, a P/E ratio of -59.46, a P/E/G ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.60%. KeyCorp’s payout ratio is currently -273.32%.

Hedge Funds Weigh In On KeyCorp

Several hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $27,000. American Capital Advisory LLC acquired a new stake in shares of KeyCorp during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC raised its stake in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in KeyCorp in the fourth quarter valued at approximately $34,000. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on KEY. DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Stephens restated an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.69.

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.