OLD National Bancorp IN Has $828,000 Stake in KeyCorp (KEY)
OLD National Bancorp IN raised its stake in KeyCorp (NYSE:KEY) by 70.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,016 shares of the financial services provider’s stock after purchasing an additional 18,120 shares during the quarter. OLD National Bancorp IN’s holdings in KeyCorp were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of KEY. Janus Henderson Group PLC raised its stake in shares of KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after purchasing an additional 8,962,913 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of KeyCorp by 3.9% in the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares during the last quarter. Samlyn Capital LLC purchased a new stake in shares of KeyCorp in the second quarter worth approximately $57,111,000. Victory Capital Management Inc. raised its stake in shares of KeyCorp by 561.7% in the second quarter. Victory Capital Management Inc. now owns 2,954,024 shares of the financial services provider’s stock worth $55,358,000 after purchasing an additional 2,507,628 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of KeyCorp by 2.7% in the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after purchasing an additional 2,280,450 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.
In other KeyCorp news, insider Amy G. Brady sold 18,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $18.42, for a total transaction of $331,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela G. Mago sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.48, for a total transaction of $92,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,636 shares of company stock valued at $5,149,949. Company insiders own 0.65% of the company’s stock.
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Several analysts have recently commented on KEY shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods raised KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Monday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $22.00 price target on shares of KeyCorp in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Finally, Zacks Investment Research downgraded KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.53.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates 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 net margin of 18.69% and a return on equity of 10.35%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS.
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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