Coldstream Capital Management Inc. Reduces Position in KeyCorp (NYSE:KEY)

Coldstream Capital Management Inc. lowered its position in KeyCorp (NYSE:KEY) by 71.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,870 shares of the financial services provider’s stock after selling 88,969 shares during the quarter. Coldstream Capital Management Inc.’s holdings in KeyCorp were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KEY. Cornerstone Wealth Management LLC boosted its stake in KeyCorp by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 732 shares during the period. UMB Bank n.a. grew its holdings in shares of KeyCorp by 2.5% during the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after buying an additional 841 shares during the last quarter. PL Capital Advisors LLC raised its stake in KeyCorp by 1.7% during the 3rd quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 900 shares during the last quarter. AHL Investment Management Inc. raised its stake in KeyCorp by 1.8% during the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after acquiring an additional 900 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of KeyCorp by 15.8% in the 4th quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 901 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on KEY. JPMorgan Chase & Co. increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Morgan Stanley raised their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

KeyCorp Price Performance

KeyCorp stock opened at $14.46 on Friday. The firm has a market capitalization of $13.63 billion, a PE ratio of 18.30, a P/E/G ratio of 0.72 and a beta of 1.28. KeyCorp has a 52 week low of $9.10 and a 52 week high of $15.86. The firm’s 50-day simple moving average is $14.97 and its 200 day simple moving average is $14.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.14 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.67%. The ex-dividend date is Friday, May 24th. KeyCorp’s payout ratio is 103.80%.

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.