Zurcher Kantonalbank Zurich Cantonalbank Buys 25,364 Shares of KeyCorp $KEY

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of KeyCorp (NYSE:KEY) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,540 shares of the financial services provider’s stock after acquiring an additional 25,364 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KeyCorp were worth $4,862,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Prime Capital Investment Advisors LLC lifted its stake in KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 486 shares in the last quarter. Centennial Wealth Advisory LLC raised its stake in shares of KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 524 shares during the period. CoreCap Advisors LLC raised its stake in shares of KeyCorp by 4.6% during the 4th quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 539 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of KeyCorp by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 568 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its stake in shares of KeyCorp by 4.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 627 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 1.7%

Shares of KEY opened at $21.63 on Friday. The business has a 50-day moving average of $20.68 and a 200 day moving average of $20.02. KeyCorp has a fifty-two week low of $14.44 and a fifty-two week high of $23.34. The firm has a market cap of $23.20 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that KeyCorp will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their target price on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Robert W. Baird lifted their target price on KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their target price on KeyCorp from $24.50 to $22.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company set a $18.00 target price on KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.13.

Insider Activity

In related news, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.56% of the company’s stock.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.