Commerce Bank Decreases Stock Position in KeyCorp (NYSE:KEY)

Commerce Bank lessened its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,888 shares of the financial services provider's stock after selling 33,065 shares during the quarter. Commerce Bank's holdings in KeyCorp were worth $2,586,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KEY. TCTC Holdings LLC increased its holdings in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the last quarter. Signaturefd LLC grew its holdings in KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock valued at $76,000 after buying an additional 614 shares in the last quarter. Modera Wealth Management LLC increased its stake in KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock worth $283,000 after acquiring an additional 627 shares during the last quarter. Ballentine Partners LLC raised its holdings 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 worth $220,000 after acquiring an additional 692 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position 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 acquiring an additional 695 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Trading Down 1.0 %

Shares of KeyCorp stock traded down $0.15 on Friday, hitting $14.72. 8,052,209 shares of the company traded hands, compared to its average volume of 12,858,678. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a market cap of $16.13 billion, a PE ratio of -49.07, a PEG ratio of 0.65 and a beta of 1.06. The stock's 50 day moving average price is $15.42 and its 200-day moving average price is $17.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the prior year, the business earned $0.20 EPS. Equities research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its board has initiated a stock buyback program on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 60,180 shares of company stock worth $1,032,525. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KEY shares. Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, DA Davidson decreased their price target on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.15.

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.