Vest Financial LLC Buys 91,442 Shares of KeyCorp $KEY

Key Points

• Vest Financial LLC initiated a KeyCorp position by purchasing 91,442 shares valued at approximately $1.84 million in the third quarter. Institutional investors collectively own 79.69% of KEY shares.
• Analysts maintain a generally positive outlook, with KeyCorp receiving a consensus “Moderate Buy” rating; recent price targets range from $23 to $27, although the reported consensus target is $46.22.
• KeyCorp exceeded quarterly earnings expectations, reporting $0.51 in EPS versus the $0.46 estimate, while revenue rose 8.3% year over year to $2.05 billion. Shares opened at $21.07, within a 52-week range of $16.91 to $24.07.

Vest Financial LLC bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,442 shares of the financial services provider's stock, valued at approximately $1,835,000.

Several other institutional investors also recently bought and sold shares of KEY. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in KeyCorp by 3.6% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 33,181 shares of the financial services provider's stock valued at $664,000 after acquiring an additional 1,140 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in KeyCorp by 3.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 117,064 shares of the financial services provider's stock worth $2,349,000 after purchasing an additional 4,302 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in KeyCorp by 13.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,695 shares of the financial services provider's stock worth $94,000 after purchasing an additional 550 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of KeyCorp by 14.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 29,293 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 3,638 shares during the last quarter. Finally, Krilogy Financial LLC boosted its holdings in shares of KeyCorp by 7.0% during the 3rd quarter. Krilogy Financial LLC now owns 10,927 shares of the financial services provider's stock valued at $220,000 after purchasing an additional 713 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KEY shares. TD Cowen started coverage on KeyCorp in a report on Thursday, October 8th. They issued a "buy" rating and a $23.00 target price on the stock. Robert W. Baird boosted their target price on KeyCorp from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Evercore reissued an "outperform" rating and set a $24.00 price target on shares of KeyCorp in a research note on Thursday, October 1st. Weiss Ratings cut KeyCorp from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, DA Davidson raised their price target on KeyCorp from $26.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.22.

KeyCorp Price Performance

KEY stock opened at $21.07 on Friday. KeyCorp has a 52 week low of $16.91 and a 52 week high of $24.07. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $21.84. The firm has a market capitalization of $22.49 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period last year, the company posted $0.41 EPS. The business's revenue was up 8.3% on a year-over-year basis. Analysts anticipate that KeyCorp will post 1.86 earnings per share for the current fiscal year.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank's offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.

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