Azora Capital LP Has $26.59 Million Holdings in KeyCorp (NYSE:KEY)

Azora Capital LP lessened its position in shares of KeyCorp (NYSE:KEY - Free Report) by 71.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,551,073 shares of the financial services provider's stock after selling 3,966,109 shares during the period. KeyCorp comprises 1.2% of Azora Capital LP's portfolio, making the stock its 26th largest position. Azora Capital LP owned 0.16% of KeyCorp worth $26,585,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KEY. Black Maple Capital Management LP boosted its holdings in KeyCorp by 110.0% in the fourth quarter. Black Maple Capital Management LP now owns 391,601 shares of the financial services provider's stock worth $6,712,000 after purchasing an additional 205,126 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of KeyCorp by 26.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,823,014 shares of the financial services provider's stock valued at $31,246,000 after buying an additional 385,066 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of KeyCorp during the 4th quarter valued at about $291,000. Freestone Grove Partners LP bought a new stake in shares of KeyCorp during the 4th quarter valued at about $63,540,000. Finally, Comerica Bank lifted its holdings in KeyCorp by 16.6% in the fourth quarter. Comerica Bank now owns 971,889 shares of the financial services provider's stock worth $16,658,000 after acquiring an additional 138,168 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on KEY. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. cut their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. StockNews.com upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and a consensus target price of $18.97.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.

KeyCorp Price Performance

NYSE:KEY traded down $0.07 during mid-day trading on Wednesday, reaching $15.24. 11,611,018 shares of the stock were exchanged, compared to its average volume of 12,829,874. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average price of $15.15 and a 200 day moving average price of $16.95. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The firm has a market capitalization of $16.69 billion, a PE ratio of -50.78, a PEG ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company posted $0.20 EPS. Research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its board has authorized a share buyback plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.