AMG National Trust Bank Increases Stock Position in KeyCorp (NYSE:KEY)

AMG National Trust Bank increased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 101.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 135,419 shares of the financial services provider's stock after purchasing an additional 68,196 shares during the quarter. AMG National Trust Bank's holdings in KeyCorp were worth $2,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KEY. Callan Family Office LLC bought a new stake in KeyCorp in the fourth quarter worth about $205,000. Candriam S.C.A. raised its position in KeyCorp by 23.9% in the fourth quarter. Candriam S.C.A. now owns 70,170 shares of the financial services provider's stock worth $1,203,000 after acquiring an additional 13,533 shares during the period. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter worth about $27,000. Raymond James Financial Inc. bought a new stake in KeyCorp in the fourth quarter worth about $42,827,000. Finally, Arizona State Retirement System raised its position in KeyCorp by 1.4% in the fourth quarter. Arizona State Retirement System now owns 273,953 shares of the financial services provider's stock worth $4,696,000 after acquiring an additional 3,826 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company's stock.

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Analyst Upgrades and Downgrades

KEY has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

KeyCorp Price Performance

KEY stock traded down $0.80 during midday trading on Monday, reaching $14.94. The company had a trading volume of 14,554,178 shares, compared to its average volume of 11,896,375. 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 1 year low of $13.11 and a 1 year high of $20.04. The company has a market capitalization of $16.50 billion, a P/E ratio of -49.85, a P/E/G ratio of 0.65 and a beta of 1.26. The firm has a 50-day moving average price of $17.37 and a 200-day moving average price of $17.49.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.49%. KeyCorp's dividend payout ratio is presently -273.33%.

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.