Commerce Bank Sells 33,065 Shares of KeyCorp (NYSE:KEY)

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

Several other large investors have also modified their holdings of KEY. Vanguard Group Inc. increased its position in shares of KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. FMR LLC lifted its position in shares of KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after acquiring an additional 2,938,405 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of KeyCorp by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after acquiring an additional 1,452,179 shares during the period. Geode Capital Management LLC boosted its position in KeyCorp by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock worth $399,169,000 after acquiring an additional 1,647,332 shares during the period. Finally, Invesco Ltd. grew its stake in KeyCorp by 2.9% in the fourth quarter. Invesco Ltd. now owns 17,260,508 shares of the financial services provider's stock valued at $295,845,000 after purchasing an additional 479,604 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Down 1.0 %

Shares of KEY stock traded down $0.15 on Friday, hitting $14.72. 8,052,209 shares of the stock were exchanged, compared to its average volume of 12,862,957. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $16.13 billion, a P/E ratio of -49.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The business has a 50-day moving average of $15.42 and a 200 day moving average of $17.06.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its board has approved a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Ramani bought 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought 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 approximately $137,500. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 60,180 shares of company stock worth $1,032,525 in the last 90 days. Corporate insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KEY. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. DA Davidson dropped their price target on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Barclays cut their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, StockNews.com raised KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.