Frank Rimerman Advisors LLC Buys New Position in KeyCorp $KEY

Frank Rimerman Advisors LLC bought a new stake in KeyCorp (NYSE:KEY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,980 shares of the financial services provider’s stock, valued at approximately $714,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KEY. Activest Wealth Management raised its position in shares of KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares during the last quarter. Tompkins Financial Corp acquired a new stake in KeyCorp during the second quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in KeyCorp in the 1st quarter worth approximately $28,000. Concord Wealth Partners raised its holdings in KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 910 shares during the last quarter. Finally, Fourth Dimension Wealth LLC raised its holdings in KeyCorp by 45.5% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 2,400 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 750 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $17.35 on Thursday. The business’s fifty day moving average price is $18.03 and its 200 day moving average price is $17.63. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $18.96 billion, a P/E ratio of 21.42, a PEG ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm’s revenue was up 172.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

Insider Transactions at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Jefferies Financial Group reduced their target price on KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. TD Cowen lifted their price target on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Finally, DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.75.

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.