M&T Bank Corp Buys 6,701 Shares of KeyCorp (NYSE:KEY)

M&T Bank Corp lifted its stake in KeyCorp (NYSE:KEY) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,208 shares of the financial services provider’s stock after purchasing an additional 6,701 shares during the quarter. M&T Bank Corp’s holdings in KeyCorp were worth $861,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in KeyCorp during the 4th quarter valued at $34,000. Venturi Wealth Management LLC increased its stake in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of KeyCorp in the 4th quarter worth $45,000. Finally, Crews Bank & Trust purchased a new stake in shares of KeyCorp in the 4th quarter worth $51,000. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays increased their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Piper Sandler increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley dropped their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $19.75.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Stock Performance

KeyCorp stock opened at $15.17 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The firm has a market capitalization of $16.76 billion, a P/E ratio of -50.55, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company’s 50-day moving average is $17.29 and its 200 day moving average is $17.47.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.33%.

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.