Bank of Jackson Hole Trust Makes New Investment in KeyCorp (NYSE:KEY)

Bank of Jackson Hole Trust acquired a new position in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,881 shares of the financial services provider’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management grew its position in KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares in the last quarter. HM Payson & Co. boosted its stake in shares of KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares during the period. Graypoint LLC boosted its stake in shares of KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after buying an additional 675 shares during the period. Ballentine Partners LLC boosted its stake in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after buying an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of KeyCorp by 0.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 695 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KEY shares. The Goldman Sachs Group lifted their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Piper Sandler lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Stock Up 0.5 %

KEY stock opened at $18.04 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The company has a 50-day moving average of $17.56 and a two-hundred day moving average of $17.37. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of -60.14, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.32%.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

KeyCorp 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.