Versor Investments LP Grows Stock Position in KeyCorp $KEY

Versor Investments LP increased its holdings in shares of KeyCorp (NYSE:KEY) by 159.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 76,200 shares of the financial services provider’s stock after purchasing an additional 46,800 shares during the quarter. Versor Investments LP’s holdings in KeyCorp were worth $1,573,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. United Community Bank purchased a new position in KeyCorp during the third quarter worth about $27,000. Maseco LLP purchased a new position in KeyCorp during the fourth quarter worth about $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp during the fourth quarter worth about $30,000. Sachetta LLC lifted its position in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,595 shares during the period. Finally, Kelleher Financial Advisors purchased a new position in KeyCorp during the third quarter worth about $32,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore restated an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. Wall Street Zen downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial cut their price objective on KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, March 23rd. Robert W. Baird raised their price objective on KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Finally, Morgan Stanley cut their price objective on KeyCorp from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.18.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $21.31 on Tuesday. The company has a market cap of $23.10 billion, a P/E ratio of 13.07, a PEG ratio of 0.69 and a beta of 1.06. 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 has a one year low of $15.28 and a one year high of $23.34. The business’s 50-day simple moving average is $20.72 and its 200 day simple moving average is $20.32.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. On average, sell-side analysts forecast that KeyCorp will post 1.82 earnings per share for the current fiscal year.

KeyCorp Profile

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.