KeyCorp $KEY Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. trimmed its stake in KeyCorp (NYSE:KEY) by 14.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 470,090 shares of the financial services provider’s stock after selling 81,414 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in KeyCorp were worth $9,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of KeyCorp in the 2nd quarter worth about $30,000. Silvant Capital Management LLC acquired a new position in KeyCorp during the 2nd quarter valued at about $30,000. GK Wealth Management LLC acquired a new position in KeyCorp during the 3rd quarter valued at about $30,000. Keating Financial Advisory Services Inc. acquired a new position in KeyCorp during the 2nd quarter valued at about $31,000. Finally, Western Wealth Management LLC bought a new position in KeyCorp in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, September 23rd. Evercore reiterated an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a research report on Thursday, October 1st. Robert W. Baird boosted their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. TD Cowen began coverage on KeyCorp in a report on Thursday, October 8th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Stephens restated an “overweight” rating and issued a $26.00 target price on shares of KeyCorp in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $46.33.

KeyCorp Stock Down 0.9%

NYSE KEY opened at $19.91 on Wednesday. KeyCorp has a 12 month low of $16.47 and a 12 month high of $24.07. The company has a market capitalization of $21.24 billion, a P/E ratio of 11.82, a PEG ratio of 0.75 and a beta of 1.08. The company’s 50 day simple moving average is $21.44 and its 200 day simple moving average is $21.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities research analysts expect that KeyCorp will post 1.83 earnings per share for the current fiscal year.

About KeyCorp

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.