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

First Citizens Bank & Trust Co. lowered its stake in KeyCorp (NYSE:KEY) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Krilogy Financial LLC lifted its stake in KeyCorp by 7.0% during the third quarter. Krilogy Financial LLC now owns 10,927 shares of the financial services provider’s stock valued at $220,000 after buying an additional 713 shares in the last quarter. Lineweaver Wealth Advisors LLC boosted its holdings in shares of KeyCorp by 17.1% in the third quarter. Lineweaver Wealth Advisors LLC now owns 10,740 shares of the financial services provider’s stock worth $216,000 after buying an additional 1,568 shares during the period. Sax Wealth Advisors LLC increased its position in shares of KeyCorp by 14.2% in the third quarter. Sax Wealth Advisors LLC now owns 26,539 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 3,302 shares in the last quarter. GK Wealth Management LLC purchased a new position in shares of KeyCorp in the third quarter worth approximately $30,000. Finally, Wedmont Private Capital increased its position in shares of KeyCorp by 6.0% in the third quarter. Wedmont Private Capital now owns 25,570 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,448 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.9%

Shares of NYSE KEY opened at $19.91 on Wednesday. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The firm has a market capitalization of $21.24 billion, a PE ratio of 11.82, a PEG ratio of 0.75 and a beta of 1.08. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $21.82.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, analysts predict that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KEY. UBS Group cut their price target on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Argus raised shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $24.50 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.33.

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.