Coldstream Capital Management Inc. Acquires 90,559 Shares of KeyCorp (NYSE:KEY)

Coldstream Capital Management Inc. grew its holdings in shares of KeyCorp (NYSE:KEY) by 242.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,961 shares of the financial services provider’s stock after buying an additional 90,559 shares during the period. Coldstream Capital Management Inc.’s holdings in KeyCorp were worth $2,193,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. boosted its position in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after buying an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new position in KeyCorp during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new position in KeyCorp during the 4th quarter worth $34,000. TCTC Holdings LLC grew its stake in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at about $45,000. 79.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were purchased 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 in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Ramani bought 10,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now owns 10,000 shares of the company’s stock, valued at approximately $137,500. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 60,180 shares of company stock valued at $1,032,525 in the last quarter. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KEY. DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Royal Bank of Canada reiterated an “outperform” rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Truist Financial dropped their price target on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $14.72 on Monday. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of -49.07, a P/E/G ratio of 0.65 and a beta of 1.06. The stock’s 50-day moving average is $15.42 and its 200 day moving average is $17.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.