UMB Bank n.a. Sells 20,314 Shares of KeyCorp (NYSE:KEY)

UMB Bank n.a. lessened its stake in KeyCorp (NYSE:KEY - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,861 shares of the financial services provider's stock after selling 20,314 shares during the period. UMB Bank n.a.'s holdings in KeyCorp were worth $186,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. raised its position in KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider's stock worth $529,409,000 after acquiring an additional 993,942 shares during the period. Earnest Partners LLC raised its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider's stock worth $176,631,000 after purchasing an additional 2,339,454 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider's stock valued at $119,170,000 after purchasing an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock valued at $98,025,000 after purchasing an additional 3,042,060 shares in the last quarter. Finally, Azora Capital LP bought a new stake in KeyCorp during the third quarter valued at about $92,413,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of KEY traded up $0.17 during mid-day trading on Thursday, hitting $17.47. 12,092,006 shares of the stock were exchanged, compared to its average volume of 14,086,864. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $17.32 billion, a PE ratio of -58.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The firm has a 50-day moving average of $18.10 and a two-hundred day moving average of $17.06.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.69%. KeyCorp's dividend payout ratio (DPR) is currently -273.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KEY shares. Truist Financial started coverage on KeyCorp in a research note on Tuesday, January 7th. They issued a "hold" rating and a $19.00 price objective on the stock. Evercore ISI raised their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Morgan Stanley dropped their price target on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday. Piper Sandler raised their price objective 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, Citigroup cut shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, KeyCorp presently has an average rating of "Moderate Buy" and an average target price of $19.58.

Insiders Place Their Bets

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company's stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

About KeyCorp

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.