M&T Bank Corp Acquires 1,325,588 Shares of KeyCorp $KEY

Key Points

• M&T Bank Corp bought an additional 1,325,588 shares of KeyCorp in Q4 (a 5,317% increase), bringing its total to 1,350,519 shares worth about $27.9 million (≈0.12% of the company).
• KeyCorp beat expectations for the quarter, reporting $0.44 EPS vs. $0.41 consensus and revenue of $1.95 billion (up 10.2% year‑over‑year).
• Analysts are mixed but overall positive: KeyCorp has an average rating of "Moderate Buy" with an average price target of $23.13 following several recent target changes.

M&T Bank Corp increased its holdings in KeyCorp (NYSE:KEY - Free Report) by 5,317.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,350,519 shares of the financial services provider's stock after purchasing an additional 1,325,588 shares during the period. M&T Bank Corp owned approximately 0.12% of KeyCorp worth $27,875,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Maseco LLP bought a new stake in KeyCorp in the fourth quarter worth $27,000. United Community Bank acquired a new stake in shares of KeyCorp in the third quarter worth $27,000. GoalVest Advisory LLC bought a new stake in shares of KeyCorp during the 4th quarter worth $30,000. True Wealth Design LLC grew its stake in KeyCorp by 1,263.5% in the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider's stock valued at $35,000 after buying an additional 1,592 shares during the last quarter. Finally, Sachetta LLC raised its holdings in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider's stock worth $32,000 after acquiring an additional 1,595 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KEY has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of KeyCorp from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Truist Financial decreased their price target on shares of KeyCorp from $23.00 to $22.00 and set a "hold" rating for the company in a report on Monday, March 23rd. Argus upped their price target on shares of KeyCorp from $21.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. DA Davidson upped their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a "buy" rating in a report on Friday, April 17th. Finally, Jefferies Financial Group upped their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a "hold" rating in a report on Friday, April 17th. Twelve investment 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's stock. According to data from MarketBeat.com, KeyCorp has an average rating of "Moderate Buy" and an average target price of $23.13.

KeyCorp Stock Down 0.3%

NYSE KEY opened at $22.03 on Thursday. 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 50-day simple moving average of $20.67 and a 200 day simple moving average of $19.99. KeyCorp has a twelve month low of $14.43 and a twelve month high of $23.34. The stock has a market cap of $23.63 billion, a PE ratio of 13.51, a PEG ratio of 0.71 and a beta of 1.07.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that KeyCorp will post 1.81 EPS for the current year.

Insider Activity

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the transaction, the insider owned 166,583 shares in the company, valued at $3,869,723.09. This trade represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 62,850 shares of the firm's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares of the company's stock, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by company insiders.

KeyCorp Company 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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