Traders Buy Shares of KeyCorp (KEY) on Weakness

Traders purchased shares of KeyCorp (NYSE:KEY) on weakness during trading hours on Monday. $46.47 million flowed into the stock on the tick-up and $13.49 million flowed out of the stock on the tick-down, for a money net flow of $32.98 million into the stock. Of all stocks tracked, KeyCorp had the 31st highest net in-flow for the day. KeyCorp traded down ($0.22) for the day and closed at $16.66

A number of equities research analysts have recently commented on the company. Scotiabank reiterated a “buy” rating and set a $36.00 price objective on shares of KeyCorp in a research report on Friday, February 22nd. Zacks Investment Research downgraded KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Argus cut their target price on shares of KeyCorp from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 22nd. Wedbush downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 target price on the stock. in a research note on Monday, February 4th. They noted that the move was a valuation call. Finally, CIBC reissued an “average” rating on shares of KeyCorp in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and an average target price of $22.46.

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 1.16 and a beta of 1.20.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 17th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. KeyCorp had a net margin of 24.74% and a return on equity of 13.26%. During the same quarter last year, the company earned $0.33 earnings per share. Equities research analysts predict that KeyCorp will post 1.84 EPS for the current fiscal year.

In other news, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $17.37, for a total transaction of $541,353.42. Following the completion of the sale, the insider now owns 196,478 shares of the company’s stock, valued at $3,412,822.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total transaction of $72,127.46. Following the sale, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of KEY. Vanguard Group Inc. boosted its stake in KeyCorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 114,959,582 shares of the financial services provider’s stock valued at $2,286,547,000 after acquiring an additional 1,604,187 shares during the last quarter. Vanguard Group Inc boosted its position in shares of KeyCorp by 1.4% during the third quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after purchasing an additional 1,604,187 shares in the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 0.8% during the fourth quarter. BlackRock Inc. now owns 69,532,636 shares of the financial services provider’s stock worth $1,027,693,000 after purchasing an additional 527,640 shares in the last quarter. Boston Partners boosted its position in shares of KeyCorp by 35.1% during the fourth quarter. Boston Partners now owns 41,244,050 shares of the financial services provider’s stock worth $609,586,000 after purchasing an additional 10,713,851 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of KeyCorp by 33.5% during the third quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock worth $719,551,000 after purchasing an additional 9,086,291 shares in the last quarter. 82.52% of the stock is owned by institutional investors.

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About KeyCorp (NYSE:KEY)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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