OLD National Bancorp IN Sells 19,571 Shares of KeyCorp (NYSE:KEY)

OLD National Bancorp IN decreased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 55.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,782 shares of the financial services provider's stock after selling 19,571 shares during the period. OLD National Bancorp IN's holdings in KeyCorp were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KEY. Whittier Trust Co. grew its stake in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after buying an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in KeyCorp in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $34,000. Finally, TCTC Holdings LLC grew its holdings in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other news, insider Mohit Ramani acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director now owns 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KEY shares. Keefe, Bruyette & Woods decreased their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Barclays decreased their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Evercore ISI set a $17.00 price target on KeyCorp in a research report on Monday, April 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.86.

KeyCorp Stock Down 0.7%

Shares of KEY traded down $0.12 on Wednesday, hitting $16.23. 15,996,610 shares of the stock traded hands, compared to its average volume of 12,987,647. The company has a market capitalization of $17.79 billion, a PE ratio of -54.10, a P/E/G ratio of 0.65 and a beta of 1.09. KeyCorp has a one year low of $12.73 and a one year high of $20.04. 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 business has a 50 day simple moving average of $15.18 and a 200 day simple moving average of $16.56.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results 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. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.20 EPS. As a group, equities analysts forecast that KeyCorp will post 1.5 earnings per share 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is -482.35%.

About KeyCorp

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.