Tobam Takes Position in KeyCorp (NYSE:KEY)

Tobam purchased a new stake in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,054 shares of the financial services provider’s stock, valued at approximately $58,000.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in shares of KeyCorp during the first quarter valued at approximately $38,000. Point72 Hong Kong Ltd purchased a new stake in shares of KeyCorp during the first quarter valued at approximately $40,000. Bruce G. Allen Investments LLC purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its holdings in shares of KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares during the last quarter. Finally, Baldwin Brothers LLC MA purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 0.8 %

Shares of KeyCorp stock opened at $14.72 on Friday. The stock has a market capitalization of $13.65 billion, a PE ratio of 16.53 and a beta of 1.29. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company’s fifty day simple moving average is $14.64 and its 200-day simple moving average is $13.22. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same period last year, the firm earned $0.38 EPS. As a group, equities analysts anticipate that KeyCorp will post 1.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KEY. Morgan Stanley raised their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. DA Davidson dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Piper Sandler raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Wedbush dropped their target price on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Finally, Barclays dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $15.53.

Insider Activity

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 in the last three months. Company insiders own 0.61% of the company’s stock.

About KeyCorp

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.