25,000 Shares in KeyCorp $KEY Acquired by Forest Hill Capital LLC

Forest Hill Capital LLC purchased a new stake in KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the financial services provider’s stock, valued at approximately $502,000. KeyCorp accounts for about 0.4% of Forest Hill Capital LLC’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia bought a new position in KeyCorp in the 2nd quarter worth about $3,636,436,000. BlackRock Inc. purchased a new stake in shares of KeyCorp during the 2nd quarter valued at $2,039,113,000. Deutsche Bank AG bought a new stake in shares of KeyCorp during the 2nd quarter worth $380,244,000. North Reef Capital Management LP bought a new position in KeyCorp in the first quarter valued at $253,632,000. Finally, Legal & General Group Plc purchased a new stake in KeyCorp during the second quarter valued at about $142,169,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.5%

KEY stock opened at $21.45 on Thursday. KeyCorp has a fifty-two week low of $16.91 and a fifty-two week high of $24.07. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The business’s 50 day moving average price is $20.85 and its two-hundred day moving average price is $21.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. As a group, analysts forecast that KeyCorp will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial cut their price objective on KeyCorp from $24.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $23.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, October 30th. TD Cowen started coverage on KeyCorp in a report on Thursday, October 8th. They set a “buy” rating and a $23.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $26.00 price objective on shares of KeyCorp in a research report on Tuesday, September 15th. Finally, UBS Group decreased their target price on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

Insider Activity

In related news, insider Andrew Paine, III sold 39,130 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total value of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares in the company, valued at $4,061,305.20. This trade represents a 16.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.