Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in KeyCorp (NYSE:KEY)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in KeyCorp (NYSE:KEY) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 658,333 shares of the financial services provider’s stock after selling 89,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KeyCorp were worth $11,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KEY. Azora Capital LP purchased a new stake in KeyCorp in the 3rd quarter worth approximately $92,413,000. Thrivent Financial for Lutherans boosted its holdings in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares during the period. Victory Capital Management Inc. increased its holdings in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after buying an additional 2,790,192 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of KeyCorp in the fourth quarter worth about $42,827,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stephens restated an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday. Morgan Stanley decreased their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

KeyCorp Stock Up 2.2 %

Shares of KEY opened at $15.50 on Thursday. The stock has a fifty day simple moving average of $17.26 and a two-hundred day simple moving average of $17.45. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.12 billion, a PE ratio of -51.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

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.