Trina Evans, a director at KeyCorp (NYSE: KEY), has sold $710,789.30 worth of the company’s stock. The transaction took place on January 22, 2024, when Evans sold 32,695 shares at an average price of $21.74. Following this sale, she retains 58,719 shares, valued at approximately $1,276,551.06. This sale represents a significant decrease of 35.77% in her ownership of KeyCorp shares.
The transaction was officially disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). KeyCorp’s stock performance has shown fluctuations recently, with shares trading down by $0.48 to reach $21.09 during trading on the following Friday. In that session, 14,911,443 shares changed hands, slightly below the average volume of 16,388,840 shares.
KeyCorp has a market capitalization of $23.05 billion, with a price-to-earnings (P/E) ratio of 13.88. The stock has recorded a 52-week low of $12.73 and a 52-week high of $22.07. The company’s fifty-day moving average stands at $20.04, while its two-hundred-day moving average is $18.89.
Recent Financial Performance
On January 20, 2024, KeyCorp announced its latest earnings results, reporting an earnings per share (EPS) of $0.41 for the quarter. This figure exceeded analysts’ expectations by $0.02, as the consensus estimate was $0.39. The company achieved a return on equity of 10.28% and a net margin of 15.97%. Revenue for the quarter reached $2.01 billion, surpassing analyst predictions of $1.95 billion, marking an impressive year-over-year revenue increase of 131.8%.
Analysts forecast that KeyCorp will report an EPS of $1.50 for the current fiscal year.
Institutional Trading and Analyst Insights
Recent changes among institutional investors have influenced KeyCorp’s stock ownership. Notably, Activest Wealth Management significantly increased its stake in the company by 8,775% during the second quarter. Following this adjustment, the firm now holds 1,420 shares valued at $25,000. Other institutions, including United Community Bank and Maseco LLP, have also acquired new positions in KeyCorp, contributing to a total institutional ownership of approximately 79.69%.
Several analysts have provided insights on KeyCorp’s stock performance. Weiss Ratings reaffirmed a “hold (C+)” rating, while Evercore ISI raised its price target from $21.00 to $25.00, offering an “outperform” rating. Other notable adjustments include Truist Financial raising its target to $22.00 and Barclays increasing its target to $24.00.
Overall, analysts have expressed mixed opinions on KeyCorp’s stock, with eleven rating it as a Buy, six as a Hold, and three as a Sell. The average rating is currently a Hold, with a target price of $22.63.
KeyCorp, headquartered in Cleveland, Ohio, operates primarily through its banking subsidiary, KeyBank. The company provides a broad range of banking and financial services to various clients, including individual consumers and large corporations. Its offerings cover traditional deposit and lending products, as well as specialized financial solutions tailored for commercial and institutional clients.
