Forest Hill Capital LLC acquired a new stake in KeyCorp (NYSE:KEY – Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,000 shares of the financial services provider’s stock, valued at approximately $502,000. KeyCorp makes up about 0.4% of Forest Hill Capital LLC’s portfolio, making the stock its 17th biggest position.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of Nova Scotia bought a new position in shares of KeyCorp during the second quarter valued at $3,636,436,000. BlackRock Inc. purchased a new stake in shares of KeyCorp during the 2nd quarter valued at about $2,039,113,000. Deutsche Bank AG bought a new stake in shares of KeyCorp in the second quarter worth approximately $380,244,000. North Reef Capital Management LP bought a new position in KeyCorp during the first quarter valued at approximately $253,632,000. Finally, Legal & General Group Plc purchased a new stake in KeyCorp in the second quarter worth approximately $142,169,000. Institutional investors own 79.69% of the company’s stock.
Insider Activity
In other news, insider Andrew Paine, III sold 39,130 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total value of $829,556.00. Following the transaction, the insider owned 191,571 shares of the company’s stock, valued at approximately $4,061,305.20. The trade was a 16.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on KEY. Jefferies Financial Group dropped their price target on KeyCorp from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Argus upgraded shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Stephens restated an “overweight” rating and set a $26.00 target price on shares of KeyCorp in a research report on Tuesday, September 15th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. Finally, Truist Financial lowered their target price on KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.
Get Our Latest Analysis on KEY
KeyCorp Stock Up 0.5%
KEY opened at $21.45 on Thursday. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s fifty day moving average is $20.85 and its 200 day moving average is $21.55. KeyCorp has a fifty-two week low of $16.91 and a fifty-two week high of $24.07.
KeyCorp (NYSE:KEY – Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business posted $0.41 EPS. KeyCorp’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that KeyCorp will post 1.88 earnings per share for the current fiscal year.
KeyCorp Profile
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.
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