KeyCorp (NYSE:KEY) Shares Bought by Deutsche Bank AG

Deutsche Bank AG raised its holdings in KeyCorp (NYSE:KEY) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,905,549 shares of the financial services provider’s stock after purchasing an additional 772,452 shares during the period. Deutsche Bank AG owned about 0.49% of KeyCorp worth $84,081,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. lifted its position in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after buying an additional 800 shares in the last quarter. Ethos Financial Group LLC acquired a new position in KeyCorp during the fourth quarter worth $27,000. SBI Securities Co. Ltd. purchased a new position in KeyCorp during the fourth quarter valued at $34,000. TCTC Holdings LLC grew its position in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of KeyCorp during the 4th quarter worth about $42,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mohit Ramani bought 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at $137,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by insiders.

KeyCorp Price Performance

Shares of KEY stock opened at $15.48 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $16.97 billion, a PE ratio of -51.60, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The firm’s 50-day moving average is $15.06 and its two-hundred day moving average is $16.92. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company earned $0.20 EPS. Analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its board has authorized a stock buyback plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating on shares of KeyCorp in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Truist Financial dropped their price target on KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. StockNews.com upgraded KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, April 21st. Finally, Baird R W raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $18.97.

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.