Comerica Bank Buys 138,168 Shares of KeyCorp (NYSE:KEY)

Comerica Bank raised its stake in KeyCorp (NYSE:KEY - Free Report) by 16.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 971,889 shares of the financial services provider's stock after purchasing an additional 138,168 shares during the quarter. Comerica Bank owned 0.10% of KeyCorp worth $16,658,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC raised its holdings in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 611 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new stake in KeyCorp in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Activity at KeyCorp

In other news, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, with a total value of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 60,180 shares of company stock valued at $1,032,525 over the last ninety days. Insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Truist Financial lowered their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. DA Davidson reduced their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, Stephens restated an "overweight" rating and issued a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.97.

KeyCorp Trading Up 1.1 %

Shares of NYSE KEY opened at $15.00 on Friday. The company has a market cap of $16.43 billion, a PE ratio of -50.00, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The firm's 50 day moving average price is $15.23 and its 200-day moving average price is $17.00. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.20 EPS. On average, equities research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has initiated a share buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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.

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