OLD National Bancorp IN Sells 19,460 Shares of KeyCorp (NYSE:KEY)

OLD National Bancorp IN lessened its stake in KeyCorp (NYSE:KEY) by 33.2% in the third quarter, Holdings Channel reports. The firm owned 39,114 shares of the financial services provider’s stock after selling 19,460 shares during the quarter. OLD National Bancorp IN’s holdings in KeyCorp were worth $655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board grew its holdings in shares of KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after purchasing an additional 1,748,633 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of KeyCorp by 12.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares during the last quarter. Earnest Partners LLC increased its stake in shares of KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after buying an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP raised its holdings in KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after buying an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after buying an additional 3,517,755 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $17.10 on Tuesday. The business has a 50-day simple moving average of $16.64 and a 200 day simple moving average of $15.37. KeyCorp has a one year low of $9.50 and a one year high of $17.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.97 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KEY. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Jefferies Financial Group raised their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Barclays upped their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.62.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

About KeyCorp

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.