Crossmark Global Holdings Inc. Takes $1.73 Million Position in KeyCorp (KEY)
Crossmark Global Holdings Inc. purchased a new position in KeyCorp (NYSE:KEY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,811 shares of the financial services provider’s stock, valued at approximately $1,728,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Capital Management LLC WY increased its position in KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares in the last quarter. Sun Life Financial INC increased its position in KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares in the last quarter. Quantbot Technologies LP purchased a new stake in KeyCorp in the second quarter worth about $174,000. First Financial Bank Trust Division purchased a new stake in KeyCorp in the second quarter worth about $192,000. Finally, Equity Investment Corp Acquisition Inc increased its position in KeyCorp by 3.9% in the second quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock worth $196,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.
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KEY has been the subject of a number of analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $22.00 price target on shares of KeyCorp in a research report on Wednesday, September 27th. BMO Capital Markets restated a “buy” rating and issued a $22.00 price target on shares of KeyCorp in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.53.
Shares of KeyCorp (NYSE:KEY) opened at $18.10 on Wednesday. The stock has a market capitalization of $19,980.93, a P/E ratio of 14.08, a PEG ratio of 1.69 and a beta of 1.10. KeyCorp has a one year low of $14.16 and a one year high of $19.53. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. sell-side analysts predict that KeyCorp will post 1.38 earnings per share for the current fiscal year.
In other news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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