M&T Bank Corp Has $729,000 Stake in KeyCorp (NYSE:KEY)

M&T Bank Corp raised its position in KeyCorp (NYSE:KEY) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,507 shares of the financial services provider’s stock after buying an additional 887 shares during the quarter. M&T Bank Corp’s holdings in KeyCorp were worth $729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of KeyCorp in the 3rd quarter valued at $28,000. Larson Financial Group LLC increased its stake in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp in the third quarter valued at about $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on KEY. Royal Bank of Canada boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. UBS Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. 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 report on Friday, November 15th. Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI raised their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.16.

KeyCorp Stock Up 0.4 %

KeyCorp stock opened at $18.20 on Tuesday. The firm has a 50 day moving average price of $18.27 and a two-hundred day moving average price of $16.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 52-week low of $12.94 and a 52-week high of $20.04. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 1,820.00, a PEG ratio of 1.00 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.51%. KeyCorp’s payout ratio is 8,200.00%.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

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.