National Bank of Canada FI Has $16.54 Million Stock Position in KeyCorp (NYSE:KEY)

Key Points

• National Bank of Canada FI reduced its holdings in KeyCorp by 52.8%, selling over 1.1 million shares, leaving it with approximately 1 million shares valued at $16.5 million.
• A total of 79.69% of KeyCorp's stock is currently owned by institutional investors, with notable increases in holdings by AlphaCore Capital and Mitsubishi UFJ Asset Management.
• KeyCorp reported a significant 20.6% increase in revenue year-over-year, with an earnings per share of $0.35 for the recent quarter, surpassing analysts' expectations.

National Bank of Canada FI trimmed its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 52.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,034,304 shares of the financial services provider's stock after selling 1,157,181 shares during the quarter. National Bank of Canada FI owned 0.09% of KeyCorp worth $16,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $28,000. Allworth Financial LP raised its stake in shares of KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of KeyCorp in the first quarter valued at approximately $34,000. NBC Securities Inc. raised its stake in shares of KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of KeyCorp by 44.1% in the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 766 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the transaction, the insider owned 82,523 shares of the company's stock, valued at $1,327,795.07. The trade was a 18.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares of the company's stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,149 shares of company stock valued at $2,738,230. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a "neutral" rating and issued a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Jefferies Financial Group assumed coverage on shares of KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price for the company. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Bank of America lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, KeyCorp currently has an average rating of "Hold" and a consensus price target of $19.39.

KeyCorp Trading Up 0.5%

KEY traded up $0.10 during trading on Thursday, reaching $18.32. 24,618,684 shares of the company's stock were exchanged, compared to its average volume of 17,086,297. The company's fifty day moving average price is $17.51 and its 200-day moving average price is $16.48. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The firm has a market capitalization of $20.08 billion, a PE ratio of -261.64, a P/E/G ratio of 0.63 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The business's quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is currently -1,171.43%.

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.