Stock Yards Bank & Trust Co. Trims Position in KeyCorp (NYSE:KEY)

Stock Yards Bank & Trust Co. cut its holdings in shares of KeyCorp (NYSE:KEY) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,901 shares of the financial services provider’s stock after selling 5,396 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in KeyCorp were worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Criterion Capital Advisors LLC purchased a new position in KeyCorp during the 4th quarter worth approximately $39,000. abrdn plc raised its position in KeyCorp by 70.1% during the 4th quarter. abrdn plc now owns 390,946 shares of the financial services provider’s stock worth $5,630,000 after buying an additional 161,059 shares during the last quarter. RIA Advisory Group LLC purchased a new position in KeyCorp during the 4th quarter worth approximately $89,000. Daiwa Securities Group Inc. raised its position in KeyCorp by 6.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 84,852 shares of the financial services provider’s stock worth $1,222,000 after buying an additional 4,896 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in KeyCorp during the 4th quarter worth approximately $56,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the transaction, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock valued at $303,914 in the last 90 days. 0.67% of the stock is owned by insiders.

KeyCorp Trading Up 0.6 %

Shares of KEY opened at $14.73 on Wednesday. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm’s fifty day moving average is $14.72 and its two-hundred day moving average is $13.49. The stock has a market cap of $13.66 billion, a PE ratio of 18.64 and a beta of 1.29.

KeyCorp (NYSE:KEY) last announced its 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 return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $0.44 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. Research analysts forecast that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective 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. Morgan Stanley raised their price objective 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. Piper Sandler raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. DA Davidson dropped their price objective on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Finally, Jefferies Financial Group raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

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.