Smithfield Trust Co. Boosts Holdings in KeyCorp (KEY)

Smithfield Trust Co. raised its holdings in shares of KeyCorp (NYSE:KEY) by 89.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,537 shares of the financial services provider’s stock after acquiring an additional 4,040 shares during the period. Smithfield Trust Co.’s holdings in KeyCorp were worth $170,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Fagan Associates Inc. raised its position in shares of KeyCorp by 4.1% during the 2nd quarter. Fagan Associates Inc. now owns 66,049 shares of the financial services provider’s stock valued at $1,291,000 after acquiring an additional 2,627 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of KeyCorp by 1.9% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 157,288 shares of the financial services provider’s stock valued at $3,128,000 after acquiring an additional 2,885 shares during the last quarter. Amalgamated Bank raised its position in shares of KeyCorp by 2.3% during the 2nd quarter. Amalgamated Bank now owns 136,207 shares of the financial services provider’s stock valued at $2,661,000 after acquiring an additional 3,031 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of KeyCorp by 33.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,652 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 3,395 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of KeyCorp by 8.5% during the 3rd quarter. Private Advisor Group LLC now owns 47,073 shares of the financial services provider’s stock valued at $936,000 after acquiring an additional 3,694 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.

Several analysts have commented on KEY shares. Jefferies Financial Group reiterated a “buy” rating and set a $23.00 target price on shares of KeyCorp in a research report on Friday, July 13th. Wedbush set a $23.00 target price on shares of KeyCorp and gave the company a “buy” rating in a research report on Thursday, September 13th. Nomura dropped their target price on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Standpoint Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Tuesday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.39.

KEY opened at $18.89 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 12 month low of $16.48 and a 12 month high of $22.40. The firm has a market capitalization of $19.35 billion, a P/E ratio of 13.89, a PEG ratio of 0.69 and a beta of 1.00.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.73 earnings per share for the current fiscal year.

In other news, Chairman Beth E. Mooney bought 10,000 shares of the stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $18.26 per share, for a total transaction of $182,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 6,963 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $18.37, for a total value of $127,910.31. Following the transaction, the director now owns 68,088 shares of the company’s stock, valued at approximately $1,250,776.56. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

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KeyCorp Profile

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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Read More: How can you know how many shares are floating?

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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