OLD National Bancorp IN Sells 67,675 Shares of KeyCorp (NYSE:KEY)

OLD National Bancorp IN cut its position in KeyCorp (NYSE:KEY) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,949 shares of the financial services provider’s stock after selling 67,675 shares during the period. OLD National Bancorp IN’s holdings in KeyCorp were worth $1,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of KeyCorp by 35.5% in the 3rd quarter. CWM LLC now owns 50,138 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 13,144 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of KeyCorp by 260.5% in the third quarter. Ronald Blue Trust Inc. now owns 10,014 shares of the financial services provider’s stock valued at $108,000 after buying an additional 7,236 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of KeyCorp by 17.1% during the third quarter. Wealthcare Advisory Partners LLC now owns 13,909 shares of the financial services provider’s stock valued at $150,000 after buying an additional 2,035 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of KeyCorp by 34.6% in the 3rd quarter. IFP Advisors Inc now owns 9,629 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 2,476 shares during the last quarter. Finally, DnB Asset Management AS lifted its position in KeyCorp by 14.7% in the 3rd quarter. DnB Asset Management AS now owns 237,989 shares of the financial services provider’s stock valued at $2,561,000 after acquiring an additional 30,547 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

KeyCorp stock opened at $14.64 on Tuesday. The firm has a market capitalization of $13.58 billion, a PE ratio of 18.53 and a beta of 1.29. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The firm’s 50 day simple moving average is $14.70 and its 200 day simple moving average is $13.46. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, analysts expect that KeyCorp will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

KEY has been the subject of several analyst reports. Raymond James started coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. Evercore ISI raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. DA Davidson cut their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Barclays decreased their price objective on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. Finally, Jefferies Financial Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

Insiders Place Their Bets

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last quarter. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Company Profile

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.