Palouse Capital Management Lowers stake in KeyCorp (KEY)

KeyCorp (KEY) : Palouse Capital Management reduced its stake in KeyCorp by 1.79% during the most recent quarter end. The investment management company now holds a total of 290,326 shares of KeyCorp which is valued at $3,359,072 after selling 5,280 shares in KeyCorp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.KeyCorp makes up approximately 1.30% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Pggm Investments boosted its stake in KEY in the latest quarter, The investment management firm added 13,711 additional shares and now holds a total of 586,712 shares of KeyCorp which is valued at $6,788,258. KeyCorp makes up approx 0.03% of Pggm Investments’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in KEY by selling 857,817 shares or 63.52% in the most recent quarter. The Hedge Fund company now holds 492,738 shares of KEY which is valued at $5,819,236. KeyCorp makes up approx 0.10% of Old Mutual Global Investors (uk) Ltd.’s portfolio.British Columbia Investment Management Corp reduced its stake in KEY by selling 74,469 shares or 14.12% in the most recent quarter. The Hedge Fund company now holds 452,904 shares of KEY which is valued at $5,022,705. KeyCorp makes up approx 0.04% of British Columbia Investment Management Corp’s portfolio.

KeyCorp opened for trading at $11.57 and hit $11.82 on the upside on Friday, eventually ending the session at $11.7, with a gain of 0.43% or 0.05 points. The heightened volatility saw the trading volume jump to 7,68,53,316 shares. Company has a market cap of $9,856 M.

On the company’s financial health, KeyCorp reported $0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $0.28. The company had revenue of $1078.00 million for the quarter, compared to analysts expectations of $1082.02 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Resumed by JP Morgan to “Overweight” on Jul 25, 2016. KeyCorp was Upgraded by FBR Capital to ” Outperform” on Jul 11, 2016. KeyCorp was Upgraded by Morgan Stanley to ” Overweight” on Jul 5, 2016.

KeyCorp is a bank holding company. The Bank operates through its subsidiary KeyBank National Association which is engaged in providing banking services. Through KeyBank and other subsidiaries the Bank provides a range of retail and commercial banking commercial leasing investment management consumer finance commercial mortgage servicing and special servicing and investment banking products and services. The Bank provides these services to individual corporate and institutional clients. The Bank operates in two segments: Key Community Bank which serves individuals and small to mid-sized businesses by offering a variety of deposit investment lending credit card and personalized wealth management products and business advisory services and Key Corporate Bank is a full-service corporate and investment bank focused on serving the needs of middle market clients in seven industry sectors: consumer energy healthcare industrial public sector real estate and technology.

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