Arvest Bank Trust Division Purchases Shares of 74,814 KeyCorp $KEY

Arvest Bank Trust Division purchased a new stake in KeyCorp (NYSE:KEY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 74,814 shares of the financial services provider’s stock, valued at approximately $1,303,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of KeyCorp in the 4th quarter worth about $476,000. Allworth Financial LP grew its holdings in shares of 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. Ballentine Partners LLC boosted its stake in KeyCorp by 28.8% during the 1st quarter. Ballentine Partners LLC now owns 16,553 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 3,698 shares during the last quarter. New York State Common Retirement Fund grew its holdings in KeyCorp by 0.6% during the first quarter. New York State Common Retirement Fund now owns 550,759 shares of the financial services provider’s stock worth $8,807,000 after buying an additional 3,300 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of KeyCorp by 39.0% in the 1st quarter. Signaturefd LLC now owns 6,191 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 1,738 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KEY. Morgan Stanley increased their price target on KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of KeyCorp in a report on Friday, October 31st. UBS Group upped their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company raised their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.75.

Insider Buying and Selling at KeyCorp

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

KeyCorp Price Performance

KEY stock opened at $17.62 on Friday. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.52 and a beta of 1.18. The firm’s 50-day moving average price is $18.17 and its two-hundred day moving average price is $17.55. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.

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

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.