AMG National Trust Bank Purchases 68,196 Shares of KeyCorp (NYSE:KEY)

AMG National Trust Bank boosted its position in shares of KeyCorp (NYSE:KEY) by 101.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,419 shares of the financial services provider’s stock after purchasing an additional 68,196 shares during the period. AMG National Trust Bank’s holdings in KeyCorp were worth $2,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC grew its holdings in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after buying an additional 627 shares during the period. Graypoint LLC lifted its holdings in KeyCorp by 4.7% during the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares in the last quarter. Ballentine Partners LLC grew its stake in KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 692 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of KeyCorp by 0.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 695 shares in the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in shares of KeyCorp by 4.1% during the fourth quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 699 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KEY stock opened at $15.75 on Friday. The stock has a market cap of $17.40 billion, a P/E ratio of -52.48, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a fifty day moving average price of $17.37 and a two-hundred day moving average price of $17.48. KeyCorp has a one year low of $13.11 and a one year high of $20.04. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.33%.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Piper Sandler increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Barclays lifted their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.69.

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.