Banco Bilbao Vizcaya Argentaria S.A. Sells 9,013 Shares of KeyCorp (NYSE:KEY)

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in KeyCorp (NYSE:KEY) by 28.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,927 shares of the financial services provider’s stock after selling 9,013 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in KeyCorp were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KEY. Principal Financial Group Inc. increased its stake in shares of KeyCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock valued at $19,149,000 after purchasing an additional 36,424 shares during the last quarter. Truist Financial Corp grew its position in KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after acquiring an additional 20,424 shares during the last quarter. Avanza Fonder AB acquired a new position in KeyCorp during the fourth quarter worth about $1,618,000. Proficio Capital Partners LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $1,519,000. Finally, CHURCHILL MANAGEMENT Corp boosted its stake in shares of KeyCorp by 5.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock valued at $7,976,000 after purchasing an additional 26,047 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on KEY. JPMorgan Chase & Co. dropped their price objective on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Evercore ISI set a $17.00 price objective on KeyCorp in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. Truist Financial dropped their price objective on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.97.

KeyCorp Stock Performance

NYSE:KEY opened at $14.88 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a fifty day moving average of $15.36 and a 200-day moving average of $17.04. The firm has a market capitalization of $16.30 billion, a P/E ratio of -49.60, a P/E/G ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the previous year, the company posted $0.20 EPS. As a group, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

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

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mohit Ramani bought 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 60,180 shares of company stock valued at $1,032,525 over the last ninety days. 0.52% of the stock is owned by company insiders.

KeyCorp 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.