40,980 Shares in KeyCorp $KEY Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new stake in KeyCorp (NYSE:KEY) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 40,980 shares of the financial services provider’s stock, valued at approximately $714,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of KEY. Dakota Wealth Management grew its stake in shares of KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after buying an additional 586 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its position in KeyCorp by 4.8% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 608 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 639 shares during the period. AlphaCore Capital LLC grew its position in KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 651 shares in the last quarter. Finally, Amalgamated Bank grew its position in KeyCorp by 0.4% in the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after acquiring an additional 683 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Up 0.9%

KEY opened at $17.35 on Thursday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $18.96 billion, a PE ratio of 21.42, a P/E/G ratio of 0.52 and a beta of 1.18. The firm’s fifty day moving average price is $18.03 and its 200 day moving average price is $17.63.

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, topping the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. As a group, research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KEY. Truist Financial reduced their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Wells Fargo & Company lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Morgan Stanley boosted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of KeyCorp in a research note on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.75.

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.