KeyCorp $KEY Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. lessened its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,060,554 shares of the financial services provider's stock after selling 98,479 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.10% of KeyCorp worth $21,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MCF Advisors LLC boosted its position in shares of KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 456 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider's stock valued at $588,000 after acquiring an additional 486 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 508 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position in shares of KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider's stock valued at $929,000 after acquiring an additional 524 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of KeyCorp by 4.6% during the 4th quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider's stock valued at $252,000 after acquiring an additional 539 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial decreased their target price on shares of KeyCorp from $23.00 to $22.00 and set a "hold" rating on the stock in a research report on Monday, March 23rd. Susquehanna boosted their price target on shares of KeyCorp from $300.00 to $415.00 and gave the stock a "positive" rating in a research note on Monday, May 18th. JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $24.50 to $22.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Piper Sandler boosted their price target on shares of KeyCorp from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada boosted their price target on shares of KeyCorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and an average price target of $42.78.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares of the company's stock, valued at $6,098,676.24. This represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

KeyCorp Stock Up 1.5%

KEY stock opened at $22.67 on Friday. The company's 50 day moving average price is $21.54 and its 200 day moving average price is $20.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.72 and a beta of 1.03. KeyCorp has a fifty-two week low of $15.59 and a fifty-two week high of $23.34.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. KeyCorp's dividend payout ratio is 50.31%.

KeyCorp announced that its board has authorized a stock buyback plan on Wednesday, May 13th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 13% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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