Bayforest Capital Ltd Takes Position in KeyCorp $KEY

Bayforest Capital Ltd bought a new position in shares of KeyCorp (NYSE:KEY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,635 shares of the financial services provider’s stock, valued at approximately $116,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tompkins Financial Corp bought a new position in shares of KeyCorp during the 2nd quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the first quarter worth about $28,000. Allworth Financial LP boosted its stake in KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in KeyCorp during the 1st quarter valued at approximately $34,000. Finally, Concord Wealth Partners increased its stake in KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 910 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher M. Gorman sold 112,149 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the sale, the chief executive officer owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KEY. TD Cowen raised their target price on shares of KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a report on Friday, October 3rd. UBS Group boosted their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI raised their price objective on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada lifted their target price on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group decreased their price target on KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.86.

KeyCorp Price Performance

Shares of KEY stock opened at $16.96 on Friday. The stock has a 50 day moving average price of $18.56 and a 200 day moving average price of $17.07. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. 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 market capitalization of $18.60 billion, a P/E ratio of 20.94, a P/E/G ratio of 0.53 and a beta of 1.15.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 172.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. As a group, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Company 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.